Meta is planning to create a virtual coin, known in-house as a “Zuck Bucks”, which will be available to users at Facebook and Instagram. This is to ultimately tie into their metaverse plans, with the aim of reducing dependence on advertising.
Meta is determined to keep up its position as the dominant social media provider online, and this means that they are looking into ways that they can diversify their income. These coins could be just one of the measures that they introduce to do so.
This is most likely to emulate and out-perform the systems arising through rival platforms like TikTok and Twitch. Both of these have a tipping system plus a non-ads business that is centred around in-app purchases and ecommerce.
Both are areas that Meta has attempted to introduce to its platforms in the past. Monetising their user base could help to benefit many creators across both platforms.
Something similar was introduced when they launched Facebook Credits in 2009 (with these being scrapped in 2012), and could also be compared to their attempts to set up a cryptocurrency.
As the online world continues to evolve, it is likely that we shall see more brands seek to set up payment methods such as these. If so, affiliates should look into ways they can leverage these new payment options as they rollout, whether they are Zuck Bucks or some other type of coin.
