Meta reveals 47.5% fee on metaverse sales despite protesting Apple's 30% rate
What you need to know
- Meta is planning to charge 47.5% in commission on sales of NFTs inside its metaverse.
- Horizon Worlds will take a 17.5% on top of any hardware platform fee, including its own Meta Quest Store.
- Meta has previously said that Apple's 30% fee makes it harder for creators to make money from their work.
Meta has announced that it will take a 47.5% cut on sales of digital assets on its Horizon Worlds metaverse platform, after previously blasting Apple for taking 30% from its creators.
The artist formerly known as Facebook announced the sale of virtual items in the metaverse on Monday without mentioning fees. Now, as reported by CNBC:
As the report notes, some in the community are said to be absolutely furious with the move:
If Meta wants 47.5% of NFT sales they gotta talk to the IRS because I don’t even have that after taxes 😭If Meta wants 47.5% of NFT sales they gotta talk to the IRS because I don’t even have that after taxes 😭— ThreadGuy.eth 👑 (@notthreadguy) April 13, 2022April 13, 2022
However, the news is perhaps more noteworthy in the context of Meta's staunch criticism of Apple's 30% App Store fees, which it has previously blasted in direct reference to the creation of its metaverse. From November:
Meta's VP of Horizon Vivek Sharma told The Verge "We think it's a pretty competitive rate in the market... We believe in the other platforms being able to have their share."
Apple and Meta have clashed publicly on multiple occasions over Apple's fee on the app Store. Previously lamenting:
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9