Metaverse News

Meta Wants An Almost 50% Cut Of Horizon Worlds’ Digital Asset Sales

Meta, the parent company of Facebook, is reportedly looking to take a 47.5% cut of the funds generated from digital asset sales in the virtual reality platform Horizon Worlds. This comes after the company announced that it would let a handful of creators sell digital assets in Horizon Worlds. However, Meta failed to announce how much they will charge people to sell these products.

A spokesperson for Meta confirmed that the company will take a cut of up to 47.5% on each transaction. This includes a 30% hardware platform fee as well as a 17.5% fee in Horizon Worlds.

“As we build for the metaverse, we’re focused on unlocking opportunities for creators to make money from their work,” Mark Zuckerberg said during a November interview. “The 30% fees that Apple takes on transactions make it harder to do that, so we’re updating our subscriptions product so now creators can earn more.”

These types of fees are incredibly high when compared to other metaverse-focused companies. OpenSea only takes a 2.5% cut of each transaction while LooksRare charges creators a 2% fee.

(All information was provided by CNBC)

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