Meta, parent company to social media platforms Facebook (NASDAQ;), Instagram, WhatsApp and WhatsApp is said to be working with plans for non-blockchain virtual currency.

According to a recent Financial Times report, ‘Zuck Bucks’ – as it’s known among Meta employees – is one of these virtual coins designed for the metaverse. This coin wouldn’t be blockchain-based crypto, according to the report.

However, can Meta’s metaverse really flourish without the use of decentralized crypto to conduct transactions? Why is FIREPIN Token, a newcomer (FRPN), the best choice?

Meta’s Plans for its Virtual Coins

Meta provided a justification for the non-blockchain based cryptocurrency in their metaverse plans.

“Instead, Meta is considering introducing in-app tokens that would be centralized by the company, similar to those used in gaming apps like the Robux currency in the popular children’s game Roblox.”

Robux, Roblox’s in-game currency, can be purchased via the game’s apps and then used to purchase upgrades or avatar accessories. Roblox built an impressive business out of Robux. Meta may be looking to emulate their success.

Meta has also devised plans to create ‘social tokens’ or ‘reputation tokens’, which will be awarded to users for their contributions on the company’s social platforms, primarily Facebook, according to the report.

“Another effort is to create ‘creator coins’ that could be linked to specific influencers on its photo-sharing app Instagram,” added the report.

Meta’s move away from blockchain-based tokens and crypto-assets comes after the company’s failed attempt to launch a US-backed stablecoin was met with massive regulatory backlash. Then, Silvergate, an American chartered bank, confirmed plans to buy Diem’s intellectual property.

Meta is pursuing alternative revenue streams, as Mark Zuckerberg continues to see decline in the popularity of its social networking platforms, like Instagram and Facebook.

Facebook lost 1 million daily active users in the fourth quarter of 2021, according to Meta’s Q4 2021 and full-year performance results. In February, Meta’s market value plummeted by over $220 billion after Facebook CEO Mark Zuckerberg claimed that customers are spending more time on competitors like TikTok.

The report states that Meta tried to offset these losses through traditional financial services like low-interest loans for small businesses.

“While nothing is planned right now,” the Financial Times reported, “the company has previously held discussions with potential lending partners,” adding that “most of the efforts are in the early stages of being discussed and could change or be dropped.”

According to media reports, NFTs support is being added across the entire company’s social networks, including Facebook.

In mid-March, Zuckerberg announced that Instagram will support NFTs “in the coming months.” According to the Financial Times, Meta also wants to bring NFTs to Facebook.

According to the report, “Meta plans to launch a pilot for posting and sharing NFTs on Facebook in mid-May.”

The social media platform also announced that it will be testing a feature which could require an NFT to join Facebook groups.

FIREPIN Token’s (FRPN) Role in the Metaverse

Members of the crypto community have noted that the upcoming FIREPIN Token (FRPN) could meet Meta’s need for a decentralised cryptocurrency.

FIREPIN Token FRPN has been available for presale since February. It is specially designed for the use in metaverse. It is described as an all-in-1 multi-swap DAO currency that connects five blockchains. Thus, it solves the important issue of cryptosphere interoperability.

FRPN connects Binance Smart Chain (BNB), Polygon(MATIC) and Polygon (AVAX) allowing holders (depending upon congestion) to access the most efficient and cost-effective blockchain to execute transactions efficiently and quickly.

Meta has been fighting with regulators for its own stablecoin. Implementing third parties to facilitate transactions on the platform may be one way to get around the opposition that the industry is facing.

FIREPIN token (FRPN), has also shown encouraging gains during its presale. FIREPIN Token has risen from $0.000067 to $0.0023 since the presale began, indicating the rapid rise in its value.

The value of FIREPIN Token early investments (FRPN), has increased nearly 4000%. It is anticipated that the price will rise by another 1000% after the presale closes in May.

The company’s top executives see the metaverse as the “next chapter of the internet,” as evidenced by Meta’s growing interest in the virtual world and blockchain-based innovations. As the corporation is grappling with staying relevant as TikTok dominates social media, perhaps they’d benefit from seeking some assistance from a crypto that’s taking over before it’s even launched.

More information is available on Telegram, Instagram and Twitter at FIREPIN (NYSE:). Learn more about presale.

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