Meta is reportedly making ‘Zuck Bucks’

Zuck Bucks, apparently named for Meta founder, chairman, and CEO Mark Zuckerberg is “unlikely” to be a cryptocurrency.

“Instead, Meta is trusting towards introducing in-app tokens that would be centrally managed by the company, similar to those used in gaming apps like the Robux currency in popular children’s game Roblox,” according to the FT. Roblox has built a colossal business selling Robux, and Meta could try to emulate some of that success on its platforms.

According to a new Financial Times report, Meta may have delivered upon its Diem cryptocurrency, but the company is still exploring finance products.

In addition, the parent company of Facebook and Instagram reportedly contains a few irons in the fire, including virtual currency employees have taken to calling “Zuck Bucks.”

Meta hasn’t alienated itself from blockchain products, as the company is also looking into posting and sharing NFTs on Facebook. 

The company plans to launch a pilot for doing just that in mid-May. Soon after, Meta will test allowing “membership of Facebook groups based on NFT ownership and another for minting” NFTs.

The FT previously conveyed some of Meta’s NFT plans for Facebook and Instagram in January, and Zuckerberg declared in March that NFTs would be coming to Instagram.

In addition, Meta is investigating “social tokens” or “reputation tokens,” which “could be issued as rewards for meaningful contributions in Facebook groups, for instance,” the FT reports. The company is also apparently looking into traditional financial benefits like small business loans.

We have no updates to share today,” Meta spokesperson Lauren Dickson said. “We continuously consider new product innovations for people, businesses, and creators. As a company, we are immersed in building for the metaverse, including what payments and financial services might look like.”

We’ll have to wait and notice how Zuck Bucks or other rumored projects pan out and if they can help Meta overpower some of its recent troubles. But one high-profile person occurs to be a big fan of Facebook’s plans: former Twitter CEO Jack Dorsey.