Meta to charge creators up to 47.5% tax
Meta will charge creators fees of up to 47.5% to sell virtual items in its metaverse world, significantly more than Apple charges developers on its App Store and far more than established NFT marketplaces operating in the Web3 space charge. The announcement has been met with massive skepticism in the blockchain space, with most commentators saying that Mark Zuckerberg doesn’t understand Web3.
Summary
- Meta will charge creators fees of up to 47.5% to sell virtual items in its metaverse
- No indication if NFTs will represent items
- The average fee on leading NFT marketplaces is between 2.5% and 10%
- Web3 community calls Zuckerberg and Meta clueless and out of touch
In a blog post on Monday 11 April, Meta said it’s testing virtual sales inside its custom metaverse platform Horizon Worlds. Creators will be able to sell things like fashion accessories for users’ avatars and exclusive access to customized virtual worlds. The…
