Meta working on digital currency “Zuck Bucks” after it quits Diem cryptocurrency | TechMeg
Meta working on digital currency “Zuck Bucks” after it quits Diem cryptocurrency

Meta working on digital currency “Zuck Bucks” after it quits Diem cryptocurrency

Meta working on digital currency “Zuck Bucks” after it quits Diem cryptocurrency

The parent company of Facebook and Instagram Meta always considers new product innovations for businesses, people, and creators. Just a few times back, It had introduced finance products including virtual currency employees and Diem currency in order to diversify and engage users. It is now reportedly making a digital currency, nicknamed “Zuck Bucks” which is not likely a cryptocurrency.

The currency is named after CEO Zukerberg and is supposedly to be used for in-app tokens. For this, Meta is introducing a central in-app currency system that will soon be shared across its various platforms which are Facebook, WhatsApp, and Instagram. The basic idea of Zuck Bucks currency would be the ease that the CEO is giving to the users of his apps. They can easily use the currency across Meta apps.

Meta working on digital currency “Zuck Bucks”

The currency is still in the planning phase and it’s not clear yet how it would work across its platforms but one thing is confirmed: this one is not connected to the blockchain. Seemingly, the currency will operate as the in-game currency which would be used for the purpose of purchasing a game or to change the appearance of the outfit of the gaming character.

Other features Meta is reportedly adding include creator-specific coins associated with Instagram influencers and tokens which will be meaningful rewards that would be issued to users for contributing to Facebook groups. The company is also looking into traditional finance services like small business loans.

Many analysts have the opinion that the parent company Meta is worried about the fading popularity of Facebook and the future of its finances. That’s why it is introducing new products to diversify and also to attract more customers.

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