Meta will charge a hefty commission fee for all digital asset purchases made in Metaverse. Mark Zuckerberg’s company intends to charge an almost 50% Meta Tax on all the purchases. A company spokesperson revealed the news about this proposed commission structure on Metaverse.
How much will be the Meta tax?
Meta announced a method to monetize and make revenue from Metaverse. The idea is to allow creators to sell NFT on the store present inside the Horizon Worlds platform.
Horizon Worlds is an implementation of a virtual world designed by Meta. It is similar to the many existing Metaverse like Decentraland and others available on OpenSea.
Zuckerberg didn’t reveal anything about the Meta Tax in the presentation but the news about the rates broke out yesterday.
As per an interview with CNBC, Meta spokespersons hinted at a nearly 50% Meta Tax on every transaction. 30% of this would be the hardware fee and 17.5% would be the platform charge. So, every creator would lose 47.5% of their income from each transaction to sell NFTs on Horizon Worlds.
Despite that bewildering commission, the VC of Horizon Worlds claimed it to be a pretty competitive rate in the market. However, this announcement contradicts Zuckerberg’s earlier statements.
The Zuckerberg contradiction
Mark Zuckerberg is one of the open criticizers of the high commission charges levied by platforms. He was quite vociferous about the 30% commission that Apple levies on the purchases made on the App Store.
Mark said that the heavy tax on App Store made it difficult for developers to thrive on the platform. He branded it as a selfish move. But it seems that it gave him an idea to levy even more tax on the upcoming metaverse “Horizon Worlds.”
Now, Meta will levy an almost 50% Meta Tax on every transaction. It would surely be difficult for creators to survive in this competitive industry. OpenSea and other marketplaces already exist with many lucrative Metaverses. The commission charges on OpenSea are 2.5% only.
However, Horizon Worlds could be different from any other metaverse implementations that exist today. Meta is heavily investing in AR glasses also and it could have way for a completely interactive metaverse.