META plans to retain about 50% of the sale of virtual assets in its metaverse

Just a few weeks ago, Facebook announced that its virtual reality world, “Horizon World”, would be open to any user over the age of 18 in the United States and Canada.

In a statement to the CNBC, Meta, the parent company of Facebook and other social networks, confirmed that it plans to take a 47.5% stake in the sale of digital assets in its virtual reality platform, also known as Horizons World. All this as part of the plan that the company has designed to continue developing its Metaverse.

Meta also announced that it will allow a few Horizons World creators to sell virtual assets within the worlds they build, which could include NFTs at some point. But the company never specified how much it would cost creators to sell their digital assets.

Once the news broke, members of the NFT community immediately spoke out in disagreement.

It is important to note that NFT’s marketplace, OpenSea, takes 2.5% of each transaction, and its rival, LooksRare charges only 2% for each deal.

Over the past few months, a wide variety of companies and individuals have purchased all kinds of objects through this technology: from art pieces to real estate in virtual worlds, such as Descentraland and The SandBox.

One example of this was that Rap singer Snoop Dogg bought virtual land and a fan paid $450,000 last December to purchase a plot next to Snoop at The SandBox.

In addition, Vivek Sharma, Meta’s VP of Horizon, reportedly told The Verge: “We think it’s a pretty competitive rate in the market. We believe in the other platforms being able to have their share.”

Horizon Worlds is a free virtual reality, online video game that allows people to build and explore virtual worlds. Meta published the game on its Oculus VR headsets in the U.S. and Canada on Dec. 9 but it’s yet to be rolled out worldwide.

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