Meta’s recent entry into the Metaverse brings NFT applications and potential new marketplace launches, earning almost 50% commission on every sale.
Meta has announced plans to charge a 47.5% post-listing fee for every item sold on its new Meta Quest App Store, including non-fungible tokens (NFTs). The Meta Quest App Store sells apps and games on the Horizon Worlds platform, and Meta (formerly Facebook) is used to build its Metaverse section.
The store is also said to be selling NFTs, CNBC reported on April 13. This fee includes a 30% hardware platform fee and a 17.5% Horizon Worlds usage fee per transaction. Potential customers aren’t happy with the ridiculously high discounts.
“the greatest example of being completely and utterly out of touch with something that I have ever witnessed.”
Popular NFT collector Pranksy – with nearly 400,000 Twitter followers – called it
Vivek Sharma, vice president of Horizon Meta, reportedly told The Verge, “We think this is a pretty competitive price in the market. We believe other platforms can play their part.”
Horizon Worlds (formerly Facebook Horizon) is a free virtual reality online video game that allows people to build and explore virtual worlds. Meta released the game on Oculus VR headsets in the US and Canada on December 9, but it has yet to launch globally.
In November, Zuckerberg said his company would try to help Metaverse creators avoid Apple’s App Store fees. “As we build for the metaverse, our focus is on giving creators the opportunity to monetize their work,” he said. “Apple’s 30% fee on transactions makes this difficult. So we’re updating our subscription offering so developers can now earn more.”