After announcing details on how it plans to monetize its Horizon Worlds metaverse app, Meta is now planning to take a cut of up to 47.5% on the sale of digital assets on the platform.
Earlier this week, the tech giant announced in a blogpost that it is letting a handful of Horizon Worlds creators sell virtual assets like non-fungible tokens (NFTs) within the worlds they create. However, the company failed to mention how much it will charge creators to sell their wares.
A Meta spokesperson confirmed to CNBC Wednesday that Meta will take an overall cut of up to 47.5% on each transaction. For every item sold in Horizon Worlds, a 30% cut goes to Meta via the Oculus platform, and Horizon Worlds will charge a 17.5% fee.
That's more than Apple's oft-criticized 30% App Store fee, and much more than what NFT traders are accustomed to. In the NFT space, marketplace OpenSea charges a 2.5% fee of each transaction, and creators typically take between 2.5% and 7.5%.
The NFT community on Twitter didn't take the news very well.
Horizon Worlds (formerly Facebook Horizon) is a free virtual reality, online video game that allows people to build and explore virtual worlds. Meta launched the game on its Oculus VR headsets in the U.S. and Canada on Dec. 9 but it’s not rolled out worldwide yet.
