Critics have recently scrutinized Apple’s commission structure, and now Facebook, under its new identity Meta, has unveiled its commission rates within the virtual universe it’s forging.
The company is proposing a substantial 47.5% commission on transactions conducted in the metaverse, with this rate excluding additional taxes.
In a press release at the close of October, Mark Zuckerberg, the founder and CEO of Facebook, now Meta, emphasized the company’s pivot towards the metaverse as its future trajectory.
Coinciding with this shift, the overarching company name was rebranded as Meta. Zuckerberg not only disclosed the metaverse commission but also outlined revenue-generating avenues within Horizon Worlds, the virtual universe curated by Facebook.
Of note is the breakdown of the commission structure, with Facebook aiming for 30% on hardware and an additional 17.5% on platform transactions.
Facebook executives argue that these rates are reasonable and competitive. Vivek Sharma, a senior executive at Horizons, affirmed the competitiveness of this commission rate.
It’s worth noting that this move by Meta comes after Mark Zuckerberg previously took aim at Apple’s App Store commission, criticizing the 30% rate. Zuckerberg had promised that Facebook would address and potentially alter this situation.
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