Meta may be testing its own currency called ‘Juke Box’

Facebook made waves last year when it announced that the company would change its name to Meta, which would become the so-called future of the Internet.

Now, social media behemoths are reportedly looking at a new way to tap into the 3D internet world through “Zuck Bucks”.

Named after Meter founder and CEO Mark Zuckerberg, The Financial Times The company is reportedly in the process of creating a new virtual currency that meta users can use only on social media platforms.

“The introduction of meta-in-app tokens is about to be centralized by the company, as in popular children’s games such as the Robox currency used in gaming apps. Robolax, ” The Financial Times Explained

Related: Texas is suing Meta for billions of dollars

The Jack Box Meta platform can be used for rewards and purchases, but it is not set up as a comprehensive cryptocurrency that users can spend and trade elsewhere. The jukebox will not exist in the blockchain – the currency will be controlled by the meta itself and meta.

Meta, however, did not confirm or deny the new report.

“We have no updates to share today,” said Meta spokeswoman Lauren Dixon. Edge In a statement. “We constantly consider innovating new products for people, businesses, and manufacturers. As a company, we focus on creating metavers and that includes what payments and financial services might look like.

The social media giant has previously stabbed its own in-app currency and another attempt at a broader cryptocurrency only to have both ultimately fail.

Related: Facebook officially changed its name to Meta

In 2009, the company launched Facebook Credit for use in purchases of various Facebook games and features, but the service was discontinued four years after launch due to difficulties in converting foreign currency to countries outside the United States.

Then, Facebook tried to launch Libra in 2019, a cryptocurrency that came under heavy criticism for its non-regulatory practices. The company then renamed the coin Diem earlier this year, but public and official perceptions of the currency did not change, eventually leaving Meta to release the product together.

Meta CEO Mark Zuckerberg said in a call earlier this year, “If last year we were talking about a partnership on the ground for where we are going, this year will be effective.”

Meta was down about 0.16% in the 24-hour period that closed on Thursday.

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