META reveals metaverse monetizing tools for all Instagram and Facebook creators after CEO Mark Zuckerberg announced the company will be launching more ways for making money on these platforms so let’s read today in our latest cryptocurrency news.
Zuckerberg said that there will be updates to help creators build for the metaverse and added that he wanted platforms like Facebook to play a huge role in the creator economy. There were six new updates that Zuckerberg shared in his thread with the first one being to bring more revenue with social media platforms holding off the revenue sharing on Facebook and Instagram until 2024 which includes paid online events, Badges, and bulleting and Subscriptions.
The commitment to give more revenue to creators ran until 2023 but the executive extended the deadline. In a June 2021 post, he noted that the company will take less than the 30% that apple and others take. The Interoperable Subscriptions allow creators to give the paying subscribers on other platforms access to Facebook Groups. The Stars section will be open to all eligible creators and will enable more people to earn from live videos or reels. The Reels Play bonus program will be opened for more creators and will allow them to cross-post the reels on Facebook and get monetization from there as well.
In the creator’s Marketplace, creators could easily get discovered and paid while Brands will be able to share new partnership opportunities. The company is expanding the digital collectibles to enable more clients to display NFTs on Instagram and added this feature will be coming to Facebook soon enough starting with a small number of US creators. Instagram started testing NFTs via its Digital Collectibles feature back in May while META reveals new tools after seeking unique content ont the platforms in order to beat the competitors like TikTok. The company’s grand Metaverse plans however attracted quite the scrutiny from whistleblowers.
Facebook is filled with fake news and fake content so the company took steps to reduce it. It announced a new Community Feedback policy in the US to share what is allowed and what isn’t:
“Businesses must now comply with our Community Feedback Policy, which specifically prohibits manipulation of reviews, incentivization, irrelevance, graphic content, and spam.”
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