On July 10th, Metaverse announced a hefty fee of 2% on all trades of NFTs. The announcement was unexpected to many as the project had been marketed as having zero fees for trading digital assets.
The “horizon worlds currency” is a new cryptocurrency that has been released on the Horizon Worlds Metaverse. The coin was created to be used in the virtual world, but it can also be traded for real-life money.
Team Zuckerberg is currently fine-tuning its upcoming Horizon Worlds metaverse at Meta HQ. Most importantly, planning how to extract as much money as possible from its consumer base.
Meta has announced that its artists would be able to monetise virtual content via the platform. As a result, more income may be generated by selling in-game objects, wearables, experiences, unlocked content, and visual effects.
All of this added possibility, however, comes at a cost, since Meta intends to grab a big chunk of the pie. In essence, producers will be charged an initial ‘platform fee’ by the app on which their work is hosted. Then Meta will take a whopping 25% of whatever is left over. A purchase made via the Meta-owned Quest store, for example, would be subject to a 30% platform tax. Meta would then take an additional 25% of what’s left, leaving the inventor with little over half of the cash.
The nicest thing that has ever happened to us is Facebook charging 47.5 percent for every NFT transaction.
April 12, 2022 — Degentraland (@Degentraland)
Meta has said that they feel this is a reasonable price; nevertheless, the Web3 community is divided. Horizon VP Vivek Sharma stated in a statement that has since been ridiculed mercilessly on Twitter, “We believe it’s a reasonably competitive pricing in the industry.” Meta is risking the wrath of the blockchain community, given that the normal charge for a purchase on an existing NFT marketplace is roughly 2.5 percent.
The “how to invest in horizon worlds” is a blog post that discusses the hefty fees for asset trading on Horizon Worlds Metaverse. The article also has a list of steps to follow in order to start investing in Horizon Worlds Metaverse.
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