Meta begins to allow sale of digital goods on Horizon, taking nearly half in transaction fees by Anu__Dave
The sizable transaction fee was met with strong backlash online among creators and NFT community members.Meta is beginning to allow creators to sell virtual experiences and digital items on its free virtual reality game Horizon Worlds, the companyBut the reaction from creators and people within the NFT community has largely been negative since the announcement.
What appeared to be a step in the right direction to empower users to build their own worlds and make money from such efforts was met with backlash because of the sizable cut the company will take from creators.to CNBC. The 47.5% cut from each transaction will include a hardware platform fee of 30% for sales through the Meta Quest Store. Horizon Worlds will charge another 17.5% fee on top of that., an NFT art collector and commentator.
The feature will initially only be available to a handful of creators to sell merchandise and experiences. “For example, someone could make and sell attachable accessories for a fashion world or offer paid access to a new part of a world,” said aOthers commented that the high fee won’t deter people from trying it out but might prompt other companies to follow the lead. Currently, other NFT marketplaces like OpenSea and LooksRare, take a small percentage of each transaction, at just 2.
The news comes months after Zuckerberg had highlighted how the company would focus on making the metaverse more accessible to creators by criticizing the 30% fee that Apple charges developers on transactions. “Imagine selling a nft and meta taking a 47.5% fee THEN to rub salt in the wound having to pay tax on top of the profits,”“We think it’s a pretty competitive rate in the market,” Vivek Sharma, Meta’s VP of Horizon, told
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