Mark Zuckerberg announced on Wednesday that Facebook Pay has formally change into Meta Pay, however his publish is principally targeted on what the firm hopes to construct in the future — “a wallet for the metaverse.” While Meta Pay is basically the similar device because it was earlier than, simply with Meta branding, Zuckerberg says the firm is engaged on one thing that can let customers handle their identities, items, and cost strategies whereas making their method by the digital world that Meta bets will likely be the future.
The firm has hinted at these plans earlier than — its May announcement of the Meta Pay rebranded additionally talked about that it was “scoping out what a single wallet experience might look like” with regards to making funds and storing your identification and digital items. Zuckerberg’s publish, although, focuses totally on how the firm’s metaverse pockets will allow proof of digital possession; he mentions the way it may very well be used to create and purchase “digital clothing, art, videos, music, experiences, virtual events, and more.”
The idea of a pockets that proves you personal digital items sounds a lot like crypto wallets that maintain NFTs. And whereas Zuckerberg’s publish doesn’t point out the blockchain in any respect, the firm has recently been working on integrating NFTs into Instagram and Facebook. Still, the firm hasn’t actually stated whether or not it plans on truly constructing its metaverse utilizing crypto or whether or not it’ll simply take inspiration from it. (Given Meta’s historical past, the latter could also be the most suitable choice; its try at making an precise cryptocurrency didn’t end well, and it’s reportedly looking into a digital currency that’s not primarily based on the blockchain.)
Zuckerberg additionally says the plan is for Meta’s pockets to be interoperable, letting you carry your items to “any metaverse experience.” While Zuckerberg has admitted that he’s unsure what interoperability will appear like between firms, Meta recently helped form a standards group with the aim of getting everybody on the similar web page when it comes to language and tech associated to the metaverse.
The pockets that Zuckerberg details is probably going a methods off — particularly if it’s meant to be interoperable primarily based on requirements that don’t exist but. However, that hasn’t stopped the firm from promoting digital items in the meantime; it already has a store that sells garments for your digital avatars.