Meta Announces a Hefty 47.5% Fee for Digital Items Sold on its Horizon Worlds Platform
Many companies have already started exploring ways to monetize the metaverse, but the largest player (Meta) had largely stayed on the sideline acting more like a cheering squad than a mastermind behind a metaverse playbook. Meta finally unveiled its first concerted effort to monetize its Horizon Worlds platform and it comes in the form of a 47.5% fee on virtual asset sales. The 47.5% fee breaks down as a 30% “hardware platform fee” tied to Quest platform (Horizon Worlds is currently a Meta Quest exclusive) and 17.5% for the Meta App Store.
Considering Meta’s criticism of Apple and Google’s mobile platform rates (up to 30%) the 47.5% charge was surprising and drew some criticism. While the initial virtual items may not be Non-Fungible Tokens (NFTs) on a blockchain, the rates charged by NFT marketplaces like OpenSea are also considerably lower in comparison (2.5% transaction fee from the platform and up to 10% creator fee). One key difference is Meta is providing the user platform and in some cases the tools…
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