Forget the Metaverse, Facebook Wants to Build a Monoverse

Sami Fathi writing for MacRumours:

Yesterday, it was revealed that Meta, more commonly known as Facebook, plans to take a steep 47.5% commission for digital asset purchases made inside the so-called “metaverse.”

This reminds me of how in the early 2000s Apple was able to make a deal with the record labels to sell all of their music while taking a healthy cut of their own. Since then they have been an unstoppable force in the digital music industry. The same deal never happened with TV and films. To this day, there is still no single streaming service that lets you watch any TV show and film you can think of, like there is for music. Not wanting to be beholden to Apple, the TV and movie industry learnt from the record companies’ past mistakes. I think the lack of any significant new platforms since the smartphone could be a similar reaction from software developers. Why would anyone want to build software for a world run by Facebook, where they take a 50% cut? Short of groundbreaking hardware (unlikely), what does Facebook have to offer developers other than its now dated, millennial oriented, social graph?

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