This will be your wallet for the metaverse of Meta

Mark Zuckerberg has announced how you will soon be able to pay in the Meta metaverse. Whether the currency Zuckbucks will be there is still unknown, but in any case your digital wallet is called Meta Pay. It’s not that exciting: Facebook Pay will be called Meta Pay.

Message from Mark Zuckerberg

Meta, the parent company of Facebook, WhatsApp and Instagram, is in full swing creating its metaverse. Whether it will resemble Horizon Worlds launched at the end of 2021 is still unclear, but if we think back to Mark Zuckerberg’s first announcement, it certainly is. A 3D world in which you can do whatever you want: shopping, gaming, motorcycling, holding meetings, while you are physically in your own living room with virtual reality glasses on.

In a Facebook post, the CEO indicates that Facebook Pay is now called Meta Pay. It is not yet a wallet for the metaverse, but the company wants to get there. The company is working on a way to create your own identity down to the last detail in the virtual world, but of course that has everything to do with the real world. After all, you have to be able to pay for your designer clothes for your avatar with real-world money. You can buy digital clothing, online experience, music, art and tickets to virtual events with your wallet.

Meta Pay wallet

Moreover, a wallet is certainly not only intended for payment. It is also intended to store things. For example, you can store items in it and things about your identity. In that sense it is actually your key to your virtual self in the metaverse. An important piece of technology, because with this you prove that you are you.

However, it also raises another question: is Meta stepping even further into the NFTs? Non-fungible tokens are a kind of proof that you own an online object. That can be a video, a gif or a digital artwork. NFTs can already be used on Instagram, but it has not come any further than just a clove in the water. Also, the metaverse of Meta is probably not a metaverse that works on the blockchain, so that the basis is different from, for example, the decentralized Decentraland or the Sandbox.

Blockchain

The blockchain and crypto (and therefore also NFTs) will probably become part of the new metaverse, but not a basis. In this way, Meta still keeps more in control and since it invests billions to build the digital world, it will have to earn it back. Zuckerberg has indicated that your wallet is not limited to Meta’s metaverse. So you can also take your stuff to another metaverse via your wallet. This probably has everything to do with the metaverse standard for which an organization has now been created.

While Zuckerberg only comes up with crumbs of information, it’s nice to finally hear some more about the actions Meta is taking to build that metaverse. It is still not known when we can expect the final version and what exactly the plans are, so that every bit of information about this new way of using the internet brings us one step closer to that new world. A new world that we can access thanks to our wallet.

Laura Jenny

When she’s not typing, she’s traveling around the wonderful world of entertainment or some cool place in the real world. Mario is the man of her life,…

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