%MetaPlatforms () is not giving up on its dream of creating a %DigitalCurrency .
The parent company of Facebook may have given up on its Diem %Cryptocurrency , but the company is still exploring finance products, including a virtual currency that employees have nicknamed %ZuckBucks .
Zuck Bucks, named after Meta Platforms chief executive Mark Zuckerberg, are unlikely to be a cryptocurrency. Instead, Meta is leaning towards introducing in-app tokens that would be centrally controlled by the company like those used in gaming apps such as the Robux currency in popular children’s game %Roblox ().
Meta Platforms hasn’t totally distanced itself from blockchain products, as the company is also looking at posting and sharing non-fungible tokens ( %NFTs ) on Facebook. The company reportedly plans to launch a pilot for NFTs in mid-May of this year, according to an internal memo that has been leaked to the media.
In addition, Meta Platforms is exploring %SocialTokens or %RreputationTokens that could be issued as rewards for meaningful contributions in Facebook groups and exploring traditional financial services such as loans to small businesses.
Meta Platforms stock is down 34% year to date at $223.30 U.S. a share.