Report: Meta Intends To Take A 50% Cut From All NFT Transactions In Horizon Worlds

Regarding a reported posted by new firm CNBC, a representative from Meta stated that the company will be taking nearly 50% cut from all NFT transactions that happen inside of its Metaverse.

Horizon Worlds Metaverse

Discussions around Meta have started to arise, since CBNC’s report highlighted that the company will be taking a brutal 47.5% % total cut from all NFT-based transactions that occur on the firm’s new metaverse named Horizon Worlds.

The cut includes a “hardware platform” charge of about 30% that will be cut on all transactions that are completed when utilizing the Meta Quest Store, which boasts multiple allocation and games for users to purchase and interact with and an exclusive cut of about 17.5% taken by the Horizon World’s Metaverse itself.

High Transaction Cut

Regarding the release of this transaction cut information, there have been many critical opinions posted, because the main issue with this is that this transaction cut is very high compared to other popular NFT marketplace platforms that include, OpenSea and LooksRare.

Vice President at Meta from Horizon, Vivek Sharma explained about this situation to a news outlet, saying that the company thinks this rate to be quite competitive in the existing market and thinks that other platforms will receive their respective shares.

Tool Testing and Feedback

Meta also made an announcement, saying that it is currently carrying out the testing phase for its programs by working together with selected creators. Meta stated that it is testing out the tools that will assist creators to try out various ways of monetizing their creative structures inside of the Horizon Worlds Metaverse.

Additionally, Meta said that they not only seek out crucial “feedback” from its creators, but also think that these “tools” are the key towards the long-term visionary plan of the metaverse that will help creators to make “a living” and will also let other customers to buy “digital items, services and experiences”.

Extra Bonuses

One of the programs bring tested includes the “Horizon Worlds Creator Bonus” that rewards creators for successfully reaching monthly goals. Creators will have the chance to complete monthly goals and will receive special bonuses for their performance and goal completions. The best thing about this bonus is that no additional charges will be cut from the bonuses and creators will receive the full bonus amount.