Facebook’s parent company Meta is planning to take a whopping great big cut on the sale of each digital asset sold on its virtual reality metaverse platform Horizon Worlds.

And Crypto Twitter is laying in the boot…

Meta announced plans this week to charge 47.5 per cent on each item sold on its new Meta Quest app store, which, according to CNBC, will include NFTs when they become available in the Meta ecosystem.

At the moment, the Meta Quest app store sells apps, games and skins and the like on the Horizon Worlds platform. That’s Meta’s big metaverse play, which many predict to be a more centralised and “walled garden” experience than the crypto industry’s open and decentralised metaverse vision.

Glass 47.5% full: Meta’s Horizon Worlds (image: oculus.com/horizon-worlds)

Meta’s digital-assets sales cut is split into a “hardware platform fee” of 30% per transaction plus a 17.5% usage fee on Horizon Worlds. It amounts to significantly more than the 30% Apple charges developers on its App Store.

Which is particularly rich, given what Facebook/Meta CEO and co-founder Mark Zuckerberg had to say about that in November:

“As we build for the metaverse, we’re focused on unlocking opportunities for creators to make money from their work. The 30% fees that Apple takes on transactions make it harder to do that, so we’re updating our subscriptions product so now creators can earn more.”

Of course, both these tech-giant fee structures pale in comparison to the kind of fees the cryptoverse is accustomed to. For instance OpenSea, the most popular NFT marketplace, takes a flat 2.5%, as does leading competitor Rarible, while LooksRare charges just 2% per transaction.

Here’s some more reaction from Crypto/NFT Twitter…

 

 

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