If you thought the Metaverse is revolutionizing social connection, wait until you find out what it is doing with content monetization. Meta is quickly moving into the next stage of the digital world by launching two creator funding programs that are meant to motivate creators to contribute to the platform.
The first program revolves around the expansion of the $10 million Horizon Worlds Creator Funding program, which was first set into motion in October last year. For anyone who’s unfamiliar with Horizons World, it is Meta’s VR sandbox that allows each creator to build their own virtual experience while also monetizing it.
To further explain how they are enhancing monetization on the platform, Meta’s team states:
We’re beginning to test a Horizon Worlds Creator Bonus program for participants in the US. These bonuses come in the form of goal-oriented monthly programs where the creators are paid out at the end of the month for their progress toward the goal.
To better grasp the concept, one can think of it as a competition, where creators are rewarded for being on the Metaverse and meeting certain goals such as creating the most interactive world or the ultimate creative world.
As with all other social platforms, engagement in the Metaverse is also important; thus, by relying on its creator community to develop new trends and add value to the platform, Meta will have a better chance of getting users to join the Metaverse for an immersive and unique experience. It will be as if they are actually stepping into someone else’s world!
Also, who better than Meta’s CEO Mark Zuckerberg to further explain all of the upcoming changes?
Now that we’ve got the first program out of the way, let’s talk about the second one. Meta also plans on launching a pilot program, which will give some creators the opportunity to sell virtual items and effects in their own VR worlds. To give an example, individuals could create accessories or an exclusive access to a certain part of their reality and charge others money when purchasing them.
This aspect of the Metaverse is expected to become popular considering the ever-growing interest in NFTs and digital items. Whether it’s in real life or a virtual world, people are always on the lookout for items that can enhance their experience. To better illustrate this concept, Social Media Today gives the example of Fortnite, an online game that has gained billions of dollars through in-game purchases, further proving the extent to which users go to also stand out in the virtual world.
By focusing on the growth of the Metaverse economy, Meta is on the right path to success. These new developments are a win-win situation, allowing creators to make big bucks while organically drawing interested users to the platform.
Now that we’ve shared our thoughts, what do you think about these monetization efforts? Will they be successful? Let us know by tweeting us @itpliveme