Tag: currency

Meta Introduces Premium Digital Currency on Horizon Worlds Meta has recently unveiled a new addition to Horizon Worlds by introducing its premium digital currency on the social VR platform in the US, UK, and Canada. This move allows users to purchase in-world digital goods from creators using Meta Credits, similar to how Roblox has Robux and Rec Room has Tokens. Unlike Quest Cash, Meta Credits are specifically designed for buying virtual items within Horizon Worlds and cannot be used for purchasing hardware or accessories. This marks a significant development in the platform's monetization strategy, which has been in the works since 2022 when users were first able to buy digital goods with their local currency. Image captured by Road to VR Users have the option to purchase packs of Meta Credits with bonus amounts or opt for a straightforward 10:1 conversion at the lowest 300 Meta Credit tier, priced at $3 without any bonus amount included. However, the exact real-world value of these credits remains undisclosed, following the trend of premium tokens. Currently, Meta Credits are restricted to users in the US, UK, and Canada, with other regions supported by Horizon Worlds still awaiting access. Meta emphasizes parental approval for children aged 10-12 (age requirements vary by region) for any credit card transactions, including the purchase of Meta Credits. It's worth noting that Meta Credits are non-transferable between accounts and can only be used within Horizon Worlds, whether on Quest or the standard mobile app. This limitation sets them apart from cryptocurrencies and reinforces their tie to individual user accounts. By introducing Meta Credits, Horizon Worlds is taking a significant stride towards establishing a sustainable virtual economy. However, the platform will need to compete with established ecosystems like Roblox, Rec Room, and VRChat to attract creators and users. Given Meta's extensive reach, there is speculation that Meta Credit gift cards could soon become available in stores as the Holiday Season approaches, further expanding the platform's financial ecosystem.

Tag: currency

Meta Quietly Rolls Out ‘Horizon Worlds’ Premium Digital Currency in US, UK and Canada

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