Meta Launches Digital Wallet for the Metaverse

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The new Meta Pay wallet is a rebranding of the existing Facebook Pay system, retaining previous features and adding new ones focused on the metaverse.

Meta* (formerly Facebook) has announced that the digital wallet will besupport the user economy in the upcoming integration of social media and the virtual universe of Meta.Facebook Pay supports many types of payments, but now the wallet must specialize in digital user identification and proof of ownership.

"In the future, there will be all sorts of digital items that you might want to create or buy – digital clothing, music, art, videos, virtual events, and so on.Proof of ownership will be essential, especially if you want to move some of the purchased items to other services," saysCEO Mark Zuckerberg.

Ideally, anything purchased in one metaverse should ideally be available on other platforms with the same characteristics and features, saysThis is one of the goals that Meta aims to achieve with Meta Pay.Synchronization, which makes it possible to link purchases of digital goods according to a single standard.Best experience for users and great opportunities for content creators:

"That is, the more different places you can easily use your digital items, the more you'll appreciate them, which createsa market with huge potential for creators."

Zuckerberg expects that in the future, the Meta metaverse will be used by billions of people around the world and it will becomethe main source of income for the company.

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*The activity of Meta and its social networks is prohibited in Russia.