Sunday, August 7

Zuckerberg’s first plan to monetize the Facebook metaverse is to mimic Fortnite’s business: selling digital outfits.

Mark Zuckerberg has already revealed what will be Facebook’s first big business in the metaverse: selling digital outfits. In the presentation of quarterly results of the company, the CEO of the social network has pointed out that if users use this digital universe on a daily basis to work, have fun and interact with others, they will want to personalize their avatars with clothing and virtual items, and that their objective will be to help stimulate this digital commerce that can reach billion dollar figures in the next decade.

Although it is not yet clear how he plans to do it, since he has barely outlined the idea, the truth is that trading digital outfits is becoming a very profitable business, especially for companies like Fortnite or Roblox. The Epic Games video game, which is free, has generated a significant part of the more than 9,000 million dollars that it entered in its first two years of life with the sale of skins, that is, clothes and masks to customize the avatars of the characters.

From Facebook they are aware of this trend that occurs, above all, among the younger generations, who are more willing to pay to personalize their digital alter egos and consume virtual products and shows, and they would like to exploit a market that they expect to move “hundreds of billions of dollars” in the next ten years, according to Zuckerberg.

What It remains unclear what Facebook will offer in its metaverse proposal to attract users and convince them to interact and buy its products.. Fortnite or Roblox managed to seduce hundreds of thousands of people thanks to the entertainment linked to video games, especially at the beginning of their career, and little by little both platforms have been introducing new forms of leisure such as concerts or virtual exhibitions, until they have also become in important spaces of social interaction. And when this happens, users are more willing to spend money to customize their avatars.

Facebook’s metaverse proposal, on the other hand, is at the moment much ado about nothing. Against the proven results of Fortnite or Roblox, the social network only offers, so far, a lot of talk and few tangible projects. The little that has been seen so far is the virtual reality platform to work with that it presented in August, Horizon Workrooms, and the smart glasses that he develops together with Ray-Ban.

Of course, monetarily they are very serious. And it is that Facebook is throwing the house out the window to develop its idea of ​​metaverse. Thus, in addition to the various investment plans in this regard that we already knew or the announcement that they will hire more than 10,000 employees in Europe to develop this new digital horizon, Zuckerberg revealed in the presentation of quarterly results that this year reduce their total operating profit by about $ 10 billion due to huge expenses from Facebook Reality Labs, a division of the company that is in charge of research on virtual and augmented reality.