Several sources at Meta have told the Financial Times that the final product is unlikely to be a blockchain-based cryptocurrency. Instead, a reward system consisting of “reputation tokens” or “social tokens” is being considered. These could be earned, for example, by making valuable contributions in Facebook groups. On the other hand, there would be “creator coins” for influencers and content creators, switzerland number data with the aim of reinvigorating user loyalty.
There is no further information on this yet, although they particularly insist that they are focused on building for the metaverse, and that, in the end, includes thinking about what payments and financial services could be like within that virtual universe.
Controlling its own currency could also provide the brand with an additional source of revenue , as its core advertising-based social media business appears to be slowing down.
The stock actually plummeted by more than 20% in February after Facebook announced its first-ever quarterly decline in active users. This meant a drop of almost $200 billion (177 billion euros) in the company's valuation.
It is worth noting that Meta already bet on the Libra cryptocurrency project in 2020 , which did not come to fruition. This was mainly due to the mistrust with which it was received by