14. June 2024

Meta Pays Developers $1M to Build Its Metaverse

• Meta is offering developers building its metaverse big money, with packages of up to $1 million.
• Despite the billions in losses reported by Reality Labs in 2022, Mark Zuckerberg is still committed to the company’s long-term vision for the metaverse.
• Recently, two US senators asked Zuckerberg not to allow teenagers access to the metaverse platform Horizon Worlds citing “serious risks”.

Meta Paying Big Money To Developers Building Its Metaverse

Despite turbulent times for Meta in terms of metaverse development, sources close to the company say its metaverse programmers are paid up to $1 million for their work. The information comes from anonymous “people familiar with the matter.” This follows a year in which Reality Labs — Meta’s metaverse-building division — lost a reported $13.7 billion.

Mark Zuckerberg Committed To Long-Term Vision For The Metaverse

Despite these losses, Mark Zuckerberg has been on record saying that he does not plan on changing his long-term vision for the metaverse and recently received approval from a judge in the United States to go forward with acquiring a virtual reality company. It remains unclear what this acquisition will mean for developers working on projects related to the metaverse or how it will affect payments made by Meta.

Senators Urging Zuckerberg Not To Allow Teens Access To Horizon Worlds

Recently, two U.S Senators released a letter addressed to Mark Zuckerberg urging him not allow teenagers access to Horizon Worlds — one of Meta’s popular platforms within the metaverse space — due to potential harms that could be caused through such an action.

Meta Stopping Support For Nonfungible Tokens On Facebook And Instagram

On March 13th of this year, head of commerce and financial technologies at Meta tweeted that they were slowly stopping their support for nonfungible tokens (NFTs) on Facebook and Instagram in order “to focus on other ways to support creators, people, and businesses”. This decision was met with criticism as many people had been using NFTs as digital collectibles within these platforms prior to their discontinuation of support for them .

Conclusion

Despite turbulent times financially for Meta regarding its investments into the burgeoning world of virtual reality and beyond, it appears that those working at developing projects related towards these goals are being compensated fairly according to reports from various sources close