Meta To Charge Digital Assets Creators Nearly Half Of Sales As Fees

The meta platform will charge creators around 47.5 percent on the sale of digital assets

Facebook’s parent Meta Platforms will charge creators approximately 47.5 percent on sales of digital assets and experiences made within the company’s virtual reality platform Horizon Worlds.

A Meta spokesperson told Reuters that the total fee includes a 30 percent hardware platform fee for sales made through the Meta Quest store, where it sells apps and games for its virtual reality headset, and for its Horizon platform fee. as a deduction of 17.5 percent. on Wednesday.

On Monday, the tech giant said it would begin testing tools for creators to sell digital assets and earn money on Horizon Worlds in return, a key part of its plan to build a metaverse.

Meta CEO Mark Zuckerberg has been critical of Apple Inc.’s 30 percent of App Store fees, but Meta’s latest move to charge creators nearly half of sales on its platform has angered many of them.

Facebook parent company, which changed its name to Meta last year, has invested heavily in virtual and augmented reality to reflect its new bet on the Metaverse, a network of virtual environments accessed through a variety of devices. A futuristic idea where users can work, socialize and play.

Meta’s Horizon Worlds, an elaborate VR social platform, and Horizon Venue, which focuses on virtual events, are early iterations of the Metaverse-like space.

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