Updated · May 20, 2022
Meta Will Charge Metaverse Creators Fees Up to 47.5%
Updated · Apr 14, 2022
The company had previously labelled Apple's fees as outrageous.
Facebook’s parent company Meta will take a up to a 47.5% cut from sales of digital assets and experiences made within Horizon Worlds. This comes months after the company complained of Apple’s 30% cut on App Store purchases.
The tech giant announced on Monday that it would let creators sell virtual assets within Worlds. The platform is a virtual reality world accessible through its Quest VR headset which is a step toward reaching the metaverse.
The fees comprise a hardware platform fee of 30% that will cover sales made through the Meta Quest Store. There is also a 17.5% fee for Horizon Worlds.
Meta’s announcement regarding the sale of items within its virtual world drew praise from creators. However, its most recent revelation is unlikely to attract the same reaction. Instead, it could hurt the rate of adoption of the service, which is only available in the United States and Canada for now.
CEO Mark Zuckerberg has been critical of Apple’s charges for its App Store in the past. The smartphone giant charges a 30% commission for apps and in-app purchases.
“As we build for the metaverse, we’re focusing on unlocking opportunity for creators to make money from their work,” he said in a Facebook post last November. “The 30% fees that Apple takes on transactions make it harder to do so.”
Zuckerberg’s claims that the fees stifle innovation are bound to ring hollow, considering World’s charges are more than 150% higher.
Daniel is an Economics grad who fell in love with tech. His love for books and reading pushed him into picking up the pen - and keyboard. Also a data analyst, he's taking that leap into data science and machine learning. When not writing or studying, chances are that you'll catch him watching football or face-deep in an epic fantasy novel.
Latest from Author
Your email address will not be published.