Meta wants to take a nearly 50% cut on all sales within its metaverse

Meta, formally Facebook, has revealed that it plans on taking a nearly 50% cut on sales of virtual assets on its new platform.

@JakConnorTT
Published Thu, Apr 14 2022 3:03 AM CDT   |   Updated Sat, May 7 2022 3:34 PM CDT

Meta recently revealed information on how it will be enabling its creators to monetize and earn money from using its metaverse.

Meta has taken to the news section of its website and created a video that explains to creators that they will be able to create and sell virtual items, services, and experiences within Horizon Worlds. Meta outlines that these tools to enable monetization for creators are steps toward "our long-term vision for the metaverse". Throughout Meta's announcement, the company failed to mention how much of a cut it would be taking on each transaction.

For context, the world's largest NFT marketplace, OpenSea, takes a 2.5% cut on every transaction, and Apple's App Store takes anywhere between 15% and 30%. According to a spokesperson for Meta, who told CNBC, Meta is planning on taking an overall cut of up to 47.5% on each transaction, and that includes a ""hardware platform fee" of 30% for sales made through the Meta Quest Store". The full paragraph from CNBC can be found below.

"A Meta spokesperson confirmed to CNBC Wednesday that Meta will take an overall cut of up to 47.5% on each transaction. That includes a "hardware platform fee" of 30% for sales made through the Meta Quest Store, where it sells apps and games for its virtual reality headsets. On top of that, Horizon Worlds, will charge a 17.5% fee," wrote CNBC.

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Meta wants to take a nearly 50% cut on all sales within its metaverse 55 | TweakTown.com
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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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