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Zuckerberg intros digital wallet for the Metaverse, rebrands Facebook Pay to Meta Pay


Meta CEO and founder of Facebook, Mark Zuckerberg on Wednesday has announced his new ventures for the Metaverse starting with a rebrand of Facebook Pay to Meta Pay and eventually, a metaverse digital wallet.

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Zuckerberg says he envisions a future when Meta Pay will serve as a universal wallet for all the digital items to buy or create across the metaverse.

He also emphasized how the company’s metaverse wallet will enable proof of digital ownership, especially if users want to take some of the digital goods across other services.

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“Ideally, you should be able to sign into any metaverse experience and everything you’ve bought should be right there,” Zuckerberg said in his Facebook status.

The metaverse wallet sounded a lot like crypto wallets that hold NFTs, although Zuckerberg’s post did not mention blockchain technology at all. Recently, the company was seen working on integrating NFTs into Instagram.

Zuckerberg admits that there is a long way to go but claims the Metaverse wallet’s interoperability would “deliver much better experiences for people and larger opportunities for creators.”

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Meta with other prominent companies recently formed a standards group called ‘The Metaverse Standards Forum’ with the goal of basically getting everyone aboard to cooperate and foster interoperability standards for an open Metaverse.

However, that interoperability hasn’t stopped Meta from selling digital goods in the meantime. Just this week, the company already launched a store that sells digital clothing for users’ avatars.

Avatar for JM Chavaria

JM's highest stat is probably his curious ardor to anything tech—electronics and gaming in particular. He certainly heeds utmost regard to specsheet, visuals, and rule of thirds. While JM may have a keen sense of writing, he randomly spends time experimenting on graphic designs, and calibrating his knowledge even further on photography and editing. If creativity and wit sometimes leave JM's system, watching films, anime and a good stroll for memes are his approved therapeutic claims.

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