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Meta Plans To Launch Its Own Digital Tokens, the Initiative Got the Name Zuck Bucks

Meta Virtual Currency

Recently it became known that the financial division of Meta is exploring the possibility of creating its own virtual currency. Now the company is looking for new sources of income, as the popularity of the main applications, Facebook and Instagram is falling. 

Inside the company, employees called the currency Zuck Bucks. Named after its founder and CEO, it will not be a familiar cryptocurrency that is based on a blockchain. Instead, they are leaning towards embedding tokens in applications that will be centrally controlled by the company.

The source says the company plans to launch a pilot project in mid-May, and Meta will conduct one test shortly thereafter.

In addition, the possibility of creating so-called Social tokens is being considered. This is indicated by notices of the company and the words of people familiar with its plans. It is designed to reward users who have made a meaningful contribution to the development of certain Facebook communities. Another potential digital asset, Creator coins, is being used to reward content creators, influencers, and Instagram users.

Meta plans to expand into the traditional financial services market as well. Sources said the company will focus on providing loans to small businesses. This initiative is at an early stage of discussion.

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