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The Guardian - UK
The Guardian - UK
Technology
Mark Sweney

Meta plans ‘Zuck bucks’ virtual coins for Facebook and Instagram users

Facebook Instagram Meta Mark Zuckerberg United States TikTok
Mark Zuckerberg’s plan for a cryptocurrency, Libra (later Diem) was abandoned early in 2022.
Mark Zuckerberg’s plan for a cryptocurrency, Libra (later Diem) was abandoned early in 2022. Photograph: Susan Walsh/AP

Mark Zuckerberg is looking to develop virtual coins, nicknamed “Zuck bucks” by staff, for users of Facebook and Instagram as part of a suite of products designed to reduce his platforms’ dependence on advertising in the future metaverse.

Facebook’s parent group, Meta, is looking to develop a range of virtual products – including digital tokens and “creator coins” – to diversify income and revitalise its user base, which is increasingly turning to newer rivals such as TikTok.

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