Meta to take almost half of creator sales as fees in metaverse

Facebook parent company Meta will be charging creators around 47.5% on sales of digital assets and experiences made inside its virtual reality platform called Horizon Worlds. A spokesperson told Reuters that this is comprised of 30% of hardware platform fee for sales made via its Meta Quest Store which sells apps and games meant for its virtual reality headsets. Another 17.5% cut will be from the Horizon platform fees. Earlier this week, it said that it is testing commerce tools to sell digital assets within Horizon Worlds.

In a statement Meta said that the metaverse, by nature of its not being limited by physical space, will bring a new level of creativity and open up new opportunities for the next generation of creators and businesses to pursue their passions and create livelihoods. “Creators and entrepreneurs will have more freedom to find a business model that works for them,” said the company.

It added that it is now entering into a beta test phase with a handful of creators to get their feedback, and these types of tools are steps toward its long-term vision for the metaverse where creators can earn a living and people can purchase digital goods, services, and experiences. 

Currently, Horizon Worlds is free to everyone 18 years of age or older in the US and Canada. According to Meta, Horizon Worlds is a social VR experience where you can create and explore together. According to facebook its vision for Horizon Worlds is to develop a VR space with best-in-class tools for creators to build worlds and explore together. In October, Meta also said that to support creators, it announced a $10 million Creator Fund. It also held a Creator Competition with cash prizes.

Facebook changed its name to Meta last year to indicate its interest in the metaverse space. Since then it has invested heavily in virtual and augmented reality to reflect its focus on the metaverse.

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