Meta will take half of creator’s sales in the metaverse

The company also announced a $10 million Fund for motivate creators

The big company Meta announced on April 11 in a press release that they were testing new tools for creators to start selling items and experiences within Horizon Worlds, the virtual reality metaverse created by Meta for Microsoft Windows and Oculus Quest.

According to Cointelegraph, at this time the Meta Quest app store was used to sell apps and games on the Horizon Worlds platform, which Meta, formerly Facebook, is using to build its part of the Metaverse. In an article published by CNBC on Wednesday, it was reported that the store is also expected to sell NFTs.

Purchasing items in Horizon Worlds is available to people 18+ in the US and Canada where Horizon Worlds is currently available and the creators selling items will see a Commerce tab and gizmo when they’re in Create mode that lets them create purchasable items.

Despite the exciting news, opinions were quite mixed as it was revealed that The 47.5% cut from each transaction will include a hardware platform fee of 30% for sales through the Meta Quest Store. Also, Horizon Worlds will charge another 17.5% fee on top of that, for which they would be removing almost 50% of the sales fee.

In contrast, other NFT marketplaces such as OpenSea and Looks Rare do not even reach 3% per transaction. The platform that many thought had the highest commissions, Apple, charges 30% to its creators.

«We’ve structured our fees to put more money per transaction in the pockets of world creators than many of the other products in this space,» said a representative from Meta to the portal The Block. «But we’re also just getting started, and we expect to learn a lot about how our creator ecosystem will develop best as Horizon Worlds grows.»