Meta is adding a new stream to its diverse sources of revenue by taking 47.5% commission in their metaverse.
As Meta founder and CEO Mark Zuckerberg unveiled plans for the social media giant’s upcoming metaverse, known as Horizons, creators can now earn on the digital space.
In November 2021, Zuckerberg announced that the platform will offer opportunities for creators to monetize their work through subscriptions. This means that creators receive revenue whenever people subscribe to them.
Apart from the subscriptions, creators can also sell virtual items in the metaverse.
However, Meta is taking the cut. This includes the 30 percent hardware platform fee from its Meta Quest Store where apps and games for virtual reality headsets are sold, as well as the 17.5 percent fee to access Horizon Worlds. The media is reporting the commission is 47.5 percent when in fact, these are two separate commissions, 17.5 percent and 30 percent respectively.
Even when Zuckerberg criticized Apple’s 30 percent transaction fees along with his announcement, Meta’s commission rate is significantly higher.