Meta intends to charge a 47.5% commission on sales of digital goods in the Horizon Worlds metaverse.
The reward structure includes a 30% fee towards the Meta Quest Store for VR headsets and a 17.5% fee for Horizon Worlds.
On April 11, the corporation announced that it had opened the ability for some users to create and sell virtual items in Horizon Worlds, including NFTs. The number of fees in the message was not specified.
OpenSea, the largest NFT marketplace in terms of trading volume, takes 2.5% per transaction, its competitor LooksRare has a rate of 2%.
Apple charges app developers 30% for sales through the App Store. Meta CEO Mark Zuckerberg and other executives have previously criticized the company for high fees.
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In November 2021, Zuckerberg said that the corporation intends to help creators avoid high App Store fees.
“As we build the metaverse, we are focused on giving creators opportunities to earn from their work. Apple's 30% per transaction fee makes this difficult, so we're updating our subscription product so that creators can earn more,” he said. Meta's reported commission rate was higher than Apple's, but Horizon VP Vivek Sharma called it "quite competitive in the market" in a commentary to The Verge.
The size of the commission in Horizon Worlds caused a strong reaction in the community - from sarcasm to outrage.
“Just because you changed the name to Meta doesn't mean you understand the value of Web3. Commission - 47.5%. I hate you Facebook,” said Ilana Dikman, co-founder of TheGirlsTable project and venture capitalist.
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“I would be surprised if someone read the 45.7% tax filing on Facebook and said yes, looks good to me,” wrote Web3 developer lefkosp.eth. A user named ThreadGuy.eth suggested to Meta that they "negotiate with the IRS" regarding the fee rate.
“Because I don’t have that much after taxes,” he added.
Another member of the community noted that "everyone complains about the OpenSea commissions", accompanying the message with a meme with Zuckerberg.