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Mobile Syrup

Meta extends its ‘no revenue share’ policy to 2024

METAVERSE META FACEBOOK. Silhouette of smartphone with Facebook, Messenger, whatsApp, Instagram, Oculus apps and blurred META logo on background. Rebrand of Facebook. Stafford, UK, October 28, 2021

Earlier this month, Meta announced that content creators on Facebook and Instagram won’t have to share a cut of their revenue until 2023. Now, Meta CEO Mark Zuckerberg has announced that the company is holding off revenue sharing earned from paid online events, Subscriptions, Badges, and Bulletin until 2024.

Apart from the updated time frame, Zuckerberg also mentioned a bunch of updates to monetization, including “Interoperable Subscriptions.”

Interoperable Subscriptions will allow creators to bring over their subscribers from other platforms, and provide them with access to subscriber-only Facebook groups. Additionally, Zuckerberg said that more creators will now be eligible to take part in monetization programs. Meta is opening up the ‘Reels Play Bonus’ program to more creators on Facebook, and will soon add the option for creators to cross-post their Instagram Reels to Facebook, allowing creators to monetize on both platforms.

Facebook’s tipping feature, Facebook Stars, will also be opened up to more eligible creators, giving them the option to earn from their Reels, Live, and VOD videos.

Zuckerberg also mentioned how Meta is testing out a “Creator Marketplace,” which he described as a “set place on Instagram where creators can get discovered and paid, and where brands can share new partnership opportunities.”

Source: Mark Zuckerberg, Via: The Verge

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Mobile Syrup

Zuckerberg wants the launch of Project Nazaré ‘to be an iPhone moment’

Meta is serious about dipping its toes in the augmented reality (AR) glasses game in addition to its push into the metaverse, as echoed in a recent report by The Verge.

The glasses, which are currently in development under Project Nazaré, were first talked about by the Menlo Park, California-based company’s CEO Mark Zuckerberg at Facebook Connect 2021. At the event, Zuckerberg outlined the company’s progress in the AR/VR space by mentioning the recently released Ray-Ban Stories. However, those were just small steps “along the path to an embodied internet,” said Zuckerberg. “The ultimate goal here is true Augmented Reality glasses.”

At the time, Zuckerberg had said that Project Nazaré is still “a few years out.” Meta reportedly plans to launch the glasses sometime in 2024, with upgraded versions arriving by 2026 and 2028.

While the report doesn’t talk about how much the AR glasses would cost, it does mention that they will be more expensive than the company’s $459 Oculus Quest 2 headset and more expensive than the $369 Ray-Ban Stories.

The first Nazaré headset is designed to work without connecting to a smartphone and instead will connect to a proprietary “phone-shaped device” that takes some of the computing load off the glasses. A former Meta employee told The Verge that Zuckerberg “wants it to be an iPhone moment,” referring to the initial release of the glasses sometime in 2024.

Zuckerberg has long been adamant about making the company’s push into the metaverse a serious endeavour. However, Meta’s goal to revolutionize and create a connected digital world may not instantly invoke the visions of Steve Jobs unveiling the first iPhone. The glasses merely act as an admission ticket to a movie theatre, and anyone keen to experience Zuckerberg’s full vision of the metaverse will need to purchase them first.

Want to learn more about Meta’s capabilities in the AR/VR space and what might be on the table when Project Nazaré finally drops? Check out our review of the Ray-Ban Stories.

Image credit: Facebook

Source: The Verge

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Mobile Syrup

Meta-backed stablecoin endeavour Diem to wind down

METAVERSE META FACEBOOK. Silhouette of smartphone with Facebook, Messenger, whatsApp, Instagram, Oculus apps and blurred META logo on background. Rebrand of Facebook. Stafford, UK, October 28, 2021

Meta-owned Facebook’s stroll in the digital currency market has come to an end with Diem – a stablecoin project funded by Facebook winding down and selling its assets to Silvergate.

Stablecoins refer to cryptocurrencies tied to a stable asset like the U.S. dollar, to help reduce volatility.

“With today’s sale, Silvergate will be well-placed to take this vision forward,” reads Diem CEO Stuart Levey’s comment on the sale. “Over the coming weeks, the Diem Association and its subsidiaries expect to begin the process of winding down, but we look forward to seeing the design choices – and the ideals – of Diem thrive.”

Diem says that the decision to wind down business comes after it was made clear by federal regulators that the project wouldn’t be allowed to move forward, quoting concerns about money laundering and other illegal activities.

While Diem wasn’t a project directly owned by Facebook, it did secure much of its funding from the social media giant, whose vision was to create apps like its Novi Wallet that would use utilize the Diem token. Nevertheless, it looks like Meta isn’t out of the game completely.

Stephane Kasriel, head at Novi said in a tweet, “At Meta, we’re continuing to execute on our existing fintech plans to create economic opportunities and champion greater financial inclusion today, and as we look ahead to the #metaverse.”

And despite the fact that Meta’s links to Diem have ended, there’s always the possibility that Silvergate will revamp and relaunch the project.

Header image credit: Shutterstock

Source: Diem