Zuck Bucks

Meta says it is preparing to launch a virtual currency called Zuck Bucks

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Facebook’s parent company Meta says it is taking another step toward a new financial project.

Meta is heading to another project after Congress sold a ban on Meta’s Diem Cryptocurrency in late January, after which it sold Diem’s ​​assets to Crypto-targeted Silvergate Bank for around $ 200 million.
The new project is nicknamed the Zuck Bucks by company employees, named after Meta founder Mark Zuckerberg. Zuck Bucks claims that the cryptocurrency will not be a cryptocurrency like the previous Diem, but rather the company-controlled in-app tokens. According to the Financial Times, Zuck Bucks could be used as a virtual currency for game applications such as Robux Currency in Roblox, a popular children’s game.

Roblox is a huge business selling Robux, and Meta, which is envious of it, has its own platforms, such as Facebook and Twitter. Apps like Instagram are planning to pave the way for their new digital currency. A Meta spokesman declined to comment on the news about the Zuck Bucks project, saying the company was focusing on setting up a metaverse approach to providing personal finance and payment services.

Meta says it is looking into posting and sharing NFTs on Facebook. The Financial Times reports that a new pilot program is set to launch in mid-May. It has been reported since January that Facebook plans to launch NFT projects on Facebook and Instagram, and in March the company’s CEO, Mark Zuckerberg, announced that it would launch NFTs on Instagram.

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