Meta Tests Sale of Virtual Goods in Metaverse

A woman holds a smartphone with Meta logo in front of a displayed Facebook's new rebrand logo Meta in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
A woman holds a smartphone with Meta logo in front of a displayed Facebook's new rebrand logo Meta in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
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Meta Tests Sale of Virtual Goods in Metaverse

A woman holds a smartphone with Meta logo in front of a displayed Facebook's new rebrand logo Meta in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
A woman holds a smartphone with Meta logo in front of a displayed Facebook's new rebrand logo Meta in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

Meta, the parent company of Facebook and Instagram, will give content creators the opportunity to sell virtual items to users in Horizon Worlds, its main platform in the metaverse, the company said Monday.

"For example, someone could make and sell attachable accessories for a fashion world or offer paid access to a new part of a world," the Californian tech group said in a press release, AFP said.

The metaverse, touted by Meta and other companies as the future of the internet, consists of a set of parallel "universes" accessed primarily through augmented and virtual reality platforms.

It already exists in a basic way in the form of video games such as Minecraft, Fortnite and Roblox and social platforms such as Horizon Worlds, and VRChat, where people come together not only to play, but also to interact and participate in events.

Meta, whose income is overwhelmingly dependent on large-scale targeted advertising, has made it its mission to make a major contribution to the emergence of the metaverse, and is staking out its place in the next battle for the public's attention.

To that end, the social networking giant is seeking to attract content creators who are likely in turn to attract more new users.

It had already set up a $10 million fund for creators on Horizon in October, where more than 10,000 different "worlds" already exist, according to the company.

"While we’re launching this today as a test with a handful of creators to get their feedback, these types of tools are steps toward our long-term vision for the metaverse where creators can earn a living and people can purchase digital goods, services, and experiences," Meta said.

The company also plans to test bonuses for creators who achieve certain goals -- such as "building worlds that attract the most time spent."

These bonuses will not be "subject to fees and will be paid to creators in full," Meta said, unlike revenue from virtual items, which is subject to a commission.

Horizon Worlds has more than 300,000 users in the United States and Canada, according to an article by the specialized site The Verge published in February.



Brazil to Get Satellite Internet from Chinese Rival to Starlink in 2026

Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
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Brazil to Get Satellite Internet from Chinese Rival to Starlink in 2026

Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado

Chinese low Earth orbit satellite company SpaceSail will start providing internet access to remote areas in Brazil in the first half of 2026, President Luiz Inacio Lula da Silva's chief of staff, Rui Costa, said on Wednesday, Reuters reported.

SpaceSail and Brazil's state-owned telecom Telebras had signed a memorandum of understanding in late 2024 to offer satellite internet services for schools, hospitals and other essential services in the South American country.

SpaceSail competes directly with Elon Musk's Starlink in the satellite internet market.


Google Launches First Ever Co-branded Credit Card in India

FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
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Google Launches First Ever Co-branded Credit Card in India

FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo

Alphabet Inc's Google Pay launched its first co-branded digital credit card in India on Wednesday in partnership with Axis Bank, intensifying efforts to monetize its massive user base in the country's crowded fintech sector.

WHY IT'S IMPORTANT

While Google Pay is a dominant player in India's popular domestic payments network, the Unified Payments Interface (UPI), its core service generates zero revenue from user-to-user payments due to government mandates. It, however, earns commissions for in-app services like bill payments and mobile recharges, Reuters reported.

The credit card launch opens a new avenue for Google to monetize its user base, mirroring strategies by domestic rivals Paytm and PhonePe to cross-sell lending products to payment users.

BY THE NUMBERS

India has just 50 million credit card holders, according to Google Pay, whereas its population exceeds 1.4 billion.

Google Pay meanwhile is the second top app in India by number of UPI transactions, having processed nearly 7.2 billion transactions in October alone.

HOW IT WORKS

Axis Bank manages the credit risk and issuance, while the digital-only card will be linked to the Google Pay app to make online and offline payments on the go.


UK Looks to Restart Cooperation after US Suspends Tech Deal

Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)
Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)
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UK Looks to Restart Cooperation after US Suspends Tech Deal

Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)
Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)

The UK government on Wednesday said it was focused on resuming talks promptly after the United States suspended implementation of a tech cooperation deal with Britain.

The deal was signed during US President Donald Trump's pomp-filled state visit to the UK in September.

But on Tuesday Michael Kratsios, head of the White House Office of Science and Technology Policy, said on X that the UK must make "substantial progress" on trade talks for the deal to resume.

The US and UK have been trying to implement the "Economic Prosperity Deal," agreed in May and one of the first international agreements signed after Trump threatened the world with punishing tariffs on goods entering the United States.

The US-UK Technology Prosperity Deal agreed in September 2025 was a non-binding agreement to sit alongside the broader Economic Prosperity Deal.

It was designed to align the two countries on tech innovation while spurring mostly private-sector investment, Agence France Presse reported.

Following the White House announcement, a UK government spokesperson said: "We look forward to resuming work on this partnership as quickly as possible... and working together to help shape the emerging technologies of the future."

Business and Trade Secretary Peter Kyle held trade talks with US counterparts in Washington DC last week to progress the Economic Prosperity Deal, the spokesperson said.

"They celebrated the success of the recent pharma deal and both sides agreed to continue further negotiations next year."

According to the Financial Times, US officials have become increasingly frustrated with Britain's lack of willingness to address non-tariff barriers, including rules and regulations governing food and industrial goods.