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Meta Is Working On Virtual Currency Called Zuckbox

Meta, the parent company of Facebook and Instagram, is engaged in creating a virtual currency called ‘Zuckbox‘ based on different types of coins.

News of Facebook creating and introducing digital currency has been circulating since 2019 and it was thought that the company would offer virtual currency by 2020, but this did not happen, but now there are reports that Facebook’s parent The company ‘Meta’ is engaged in creating a unique type of virtual currency.

According to the Financial Times, according to people involved in the virtual currency development project, Meta founder Mark Zuckerberg is busy preparing to introduce virtual currency in his apps and work on it is in full swing.

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The report states that the digital currency developed by Meta has been dubbed ‘Zack Box’, which will be initially introduced on Facebook app including Instagram.

The report states that this meta currency is not at all like the cryptocurrency that relies on blockchain, but rather like in-app token currencies like ‘Zack Box’, ‘Roblox Robox’ and ‘Fortnight V-Books’ which act like a virtual token. She does.

The report further states that Meta is not only engaged in the development of virtual currency but also the company is working on a number of permanent new business projects, the most important of which is ‘Meta Versus’, which could potentially raise money. Payment and other financial services will also be included.

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According to the report, Meta is simultaneously creating different virtual currencies of the same kind, including rewards for good performance on the Facebook group and coins to creators on Instagram.

In addition to virtual currency, Meta is also working on traditional financial services, including lending to small businesses, the report said.

It is unknown at this time what he will do after leaving the post. However, it is expected that it will be launched by 2023 and initially it will be introduced only on Facebook and Instagram.


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