In a Facebook post on June 21, Zuckerberg said there would also be updates to “help creators build the metaverse.” He added that he wants platforms like Facebook to play a role in the growing creator economy.
There were six new updates that Zuckerberg shared in his a thread. The first of these was more revenue for creators as social media platforms suspended any revenue sharing on Facebook and Instagram until 2024. “This includes paid online events, subscriptions, badges and newsletters,” he added.
Previously, the obligation to provide creators with more revenue was only valid until 2023, but now the chief executive has extended it. June 2021 mailhe said the company would take “less than the 30% that Apple and others take.”
Suitable Content Creators
Interoperable Subscriptions allow creators to grant their paid subscribers on other platforms access to subscriber-only Facebook groups.
In addition, the Facebook Stars section will be open to “all eligible creators,” allowing more people to earn from their videos, livestreams, or video-on-demand.
The Reels Play Bonus program will also be open to more creators, allowing them to post Instagram videos to Facebook and monetize them there as well.
The Instagram Creator Marketplace is also being tested so that creators can be discovered and paid. Brands will also be able to share new partnership opportunities.
Finally, the firm is expanding its digital collectibles by allowing more creators to display and use NFTs on Instagram. He added that the feature will be coming to Facebook soon, “starting with a small group of US creators.” Eligible contributors must meet certain requirements, so new updates may not be available to everyone.
Instagram began testing NFTs with its Digital Collectibles feature in May. Meta is looking for unique content on the platform as competitors such as TikTok, which has its own creator marketplace, are growing in popularity. However, Metaverse’s grandiose plans have caught the attention of whistleblowers.
Crackdown on Fake Facebook Reviews
Facebook is flooded with fake news and false content, so the company has taken steps to cut it down. June 20 he announced launching a new Community Feedback Policy in the US to share what it does and doesn’t allow. The firm said it is targeting businesses using the platform to advertise:
“Companies must now comply with our Community Feedback Policy, which expressly prohibits feedback manipulation, promotion, irrelevance, graphic content, and spam.”
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