Seeking the lowest regulatory path, Meta plans to issue a centralized token called "Zuck Bucks," IG and FB are set to integrate NFTs.

The Financial Times reported, citing anonymous sources, that Meta has plans to integrate centralized in-app cryptocurrencies, as well as exploring "social tokens" and "reputation tokens". Instagram may also launch "creator coins".

Zuck Bucks

According to reports, Facebook's financial division Meta Financial Technologies is continuing to explore and develop virtual currencies, internally referred to as "Zuck Bucks" by employees.

Sources indicate that the tokens are unlikely to be based on blockchain technology, and Meta is leaning towards developing in-app tokens controlled by the company, similar to the "Robux" in the game Roblox.

Creators, Contribution Rewards, and Financial Services

Meta is also studying "social tokens" and "reputation tokens," with functions including rewarding users for meaningful contributions in Facebook groups. Instagram may also issue creator tokens aimed at specific influencers for similar reward purposes.

Meta continues to explore more traditional financial services, aiming to provide low-interest loans to small and medium-sized enterprises. While there are no immediate plans, insiders revealed that the company had discussions with potential loan partners in the past.

NFTs

Former Meta CEO Mark Zuckerberg previously stated that they are working on introducing NFT features to Instagram in the near future, hoping to allow users to mint NFTs on Instagram within months.

According to internal memos, Meta plans to launch Facebook's NFT feature for posting and sharing in mid-May, followed by a rapid rollout of a pilot program that will empower users to mint and own NFTs.

Diem

The Facebook stablecoin project Diem went through regulatory challenges, public scrutiny, rebranding, and the departure of key personnel, ultimately leading to the closure of the project. There were reports of selling off and cashing out the remaining value of Diem to return capital to investors.

Its department Facebook Financial, F2, experienced significant leadership turnover in the past six months, with key figures such as head David Marcus, engineers, compliance officers, and legal teams leaving. Insiders stated:

They are seeking the least regulated path to issue digital currencies, and digital currencies not relying on blockchain technology are becoming their preferred choice.

The new head of Meta's financial division, Stephane Kasriel, stated in a January memo:

We are changing our strategic direction, including facilitating payment features for WhatsApp and Messenger, helping creators tokenize their behaviors, with NFTs being one way to achieve this, and merging the Facebook Pay wallet with the Novi wallet.