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Meta to take nearly half of sales made by its metaverse creators as fees -Breaking

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© Reuters. FILEPHOTO: A sign for Meta is displayed in front a man at Menlo Park’s headquarters, California. The new name of the company, formerly Facebook, was placed in his face on October 28, 2021. REUTERS/Carlos Barria/File Photo

(Reuters) – Facebook’s parent Meta Platforms is going to charge its creators 47.5% for digital assets and experiences created inside Horizon Worlds, the virtual reality platform of the company.

A Meta spokesperson stated that the overall cost includes a 30 percent hardware platform fee to sell apps and games through Meta Quest Store. The Horizon platform fees are 17.5%.

Tech giant Apple announced on Monday it was going to start testing tools that allow creators to make digital assets available for sale and making money via Horizon Worlds. Horizon Worlds is an important part of the company’s plan to create a metaverse.

Mark Zuckerberg is the chief executive officer of Meta. He has been critical of Apple Inc (NASDAQ)’s app-store fees of 30%. But Meta’s latest move, to charge creators for nearly half of its sales through its own platform, has upset many.

Meta, the parent company of Facebook, made significant investments in virtual and augment reality last year to reflect its new focus on metaverse. This futuristic concept of a virtual network that users can access via various devices to work, play, and socialize, is what Facebook has called itself.

Meta’s Horizon Worlds is a large VR social platform. Horizon Venues, which focuses on virtual events are the first iterations metaverse-like space.

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