Creators should be able to generate regular income in the Metaverse. However, they are not the only ones to benefit, as Meta retains a quarter of the revenue as fees.
The concept of the Metaverse, which Facebook parent company Meta has been trying to promote since it was renamed, may not yet be quite tangible to many. But Meta is making great strides and doesn’t seem to follow the old motto “move fast and break things” at this stage of development, but in fact primarily clarify terms and conditions. Because unlike Instagram and Facebook users, who almost all started creating content before anyone paid them, very few Metaverse creators will create elaborate worlds without receiving any sort of compensation. And what exactly that might look like is explained by Meta in a new blog post.
Authoring tools to monetize the Metaverse
According to the post, several ways creators can earn money in the Metaverse are currently being tested:
As part of our ongoing commitment to supporting creators, we are beginning to test several new tools that will allow creators to experiment with different ways to monetize what they create in Horizon Worlds. As we’re kicking it off today as a test with a handful of creators to get their feedback, these kinds of tools are steps toward our long-term vision of the metaverse where creators can earn a living and people can buy digital goods, services, and experiences.
This includes the newly created Creators Fund, endowed with ten million US dollars and announced last October. But the money for creators shouldn’t just be available from Meta itself. In order to sustain the model, creators must above all have the possibility of selling their own “products” to users of the metaverse. Meta cites accessories for avatars or access to exclusive locations in the virtual world as examples.
Initially, only users over the age of 18 from the United States or Canada will be able to purchase virtual goods. However, Horizon Worlds i.e. Metas Metaverse is only available in the areas mentioned so far.
After a shit storm against Apple’s 30%: Meta reserves 25% of revenues
Meta will retain a portion of the revenue generated by creators. For payouts in Horizon Worlds, Meta will retain 25% of what remains after submission for each platform. That leaves just over half of the amount paid for creators in the Metas Quest Store. After all, he keeps 30% of the income. Of the rest, 25% goes to Meta.
We think that’s a pretty competitive rate in the market. We believe that other platforms will be able to have their share,
Explain Vivek Sharma, vice president of Meta at Horizon, across from The Verge. As Sharma says, it’s common for creators to have to give up some of their income. But considering Facebook railed against Apple’s retention of 30% late last year, the 25% doesn’t seem so low anymore. Additionally, Mark Zuckerberg announced last June that Meta would not withhold fees or commissions until at least 2023. However, this offer only appears to apply to the Facebook platform. Because with the “handful” of creators who can now access the new monetization options in Horizon Worlds, Meta hits the 25% levy.
Undoubtedly, the development of monetization options in the various metaverses will be exciting. After all, as on social platforms for several years, it is important to attract the best creators in order to offer the best experience to users. It remains to be seen what other metaverse providers offer to pay creators and who will ultimately prove competitive.
How will creators get paid in the Metaverse? We’re testing new tools in Horizon Worlds to allow creators to sell items and earn money through bonus programs. https://t.co/hicJIFIkBa
Mark Zuckerberg discusses with the creators what the economy of the metaverse could look like: pic.twitter.com/esRzaAqZam
— Meta Newsroom (@MetaNewsroom) April 11, 2022