Meta to Take 47.5% Cut From Selling in Its Metaverse

April 19, 2022 at 06:56 AM GST 2 mins read MetaVerse

Meta will charge fees of up to 47.5% from its creators that sell on its platform.
Testing started last Monday to enable creators to explore ways to generate revenue.
The company said a handful of creators were chosen to provide feedback on its test.

According to a blog post, Meta mentioned that it is testing new tools inside its metaverse platform Horizon Worlds. These tools will help creators sell virtual stuff like fashion items and special access to parts of their virtual worlds. In addition, creators can also try different ways to generate revenue on the platform.

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Last year, Meta CEO Mark Zuckerberg condemned Apple for charging app developers an in-app purchases fee of 30% along with its App Store. He described in his Facebook post that Meta was “Focused on unlocking opportunities for creators to make money from their work,” as they build the metaverse. However, the 30% fees that Apple takes “Make it harder to do that, so we’re updating our subscriptions product so now creators can earn more.”

Meta will charge a 30% fee for sales made on its virtual reality system Meta Quest (formerly known as Oculus). In addition, the metaverse system of Meta — Horizon Worlds will charge a 25% sales fee from the remaining sale.

Overall, Meta will charge a sales price cut of up to 47.5% from the sellers. This means sellers will be left with a 52.5% profit from selling through Meta’s platform.

“If a creator sells an item for $1.00, then the Meta Quest Store fee would be $0.30 and the Horizon Platform fee would be $0.17 (25% of the remainder), leaving $0.53 for the Creator before any applicable taxes,” A Meta spokesperson told the Insider how the math works.

Meta’s VP of Horizon VIvek Sharma informed The Verge that they “Think it’s a pretty competitive rate in the market. We believe in the other platforms being able to have their share.”

As stated in Meta’s blog post, a “handful of creators” got invited for the trial. This will be part of its steps supporting their long-term vision for the metaverse. Specifically, Meta claims this is where creators can “earn a living” and people can acquire “virtual goods, services, and experiences.”