Meta to take up to 50% profit from “metaverse” purchases, despite calling out Apple’s 30 per cent rate

The all-too-familiar face of Mark Zuckerberg has announced that Meta plans to take a cut of up to 50% from purchases made in the “metaverse”.

Earlier in the week, Meta announced that they are opening up more opportunities for creators to monetise their Facebook content, like selling NFTs through the company’s Horizon Worlds platform.

But according to a Meta spokesperson, the company will take 47.5 per cent commission from every purchase made on the “metaverse”.

Meta commission
Credit: Meta

Speaking to the The Verge, Vice president of Horizon Worlds, Vivek Sharma, said that the proposed commission rate is “a pretty competitive rate in the market.”

But Meta and its CEO Mark Zuckerberg are being exposed as hypocrites, after they recently condemned Apple for upping their App Store commission rate from 15 per cent to 3o. At the time, Zucc said the increase in takings made “opportunities for creators to make money from their work” harder, and described the move as “monopolistic”.

After Apple’s announcement, Zuckerberg took to Facebook to confirm that Meta would keep paid online events, subscriptions, badges, and other Facebook-related products free for creators until 2023. Then after 2023, Meta would take a cut from creators on its platform, but it would be “less than the 30% that Apple and others take.”

Welp, our maths might not be perfect, but 47.5 per cent sure doesn’t sound like less than 30 per cent to us.