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Meta Introducing New Monetization Tools For Creators They Want To "Help creators build for the metaverse"

author image Written by: Rabije Gashi Corluka           Categories - In The News, Social Media

Meta’s CEO Mark Zuckerberg announced they’re launching new tools for creators to make money. He announced that in a Facebook thread. He also highlighted that they will introduce a revenue share which will be less than the 30% Apple and the others take.

Throwing shade much?

Zuckerberg mentioned six new updates:

  • More money for creators
  • Interoperable Subscriptions
  • Facebook Stars
  • Monetizing Reels
  • Creator Marketplace
  • Digital Collectibles

Let’s have a look at what each update means.

Screenshot was taken on June 22, 2022
Read More: Facebook Launches New NFT Display Options

More Money For Creators

There will be no revenue sharing on events, subscriptions, badges, or bulletins until 2024. It was originally planned to do that until 2023, but Zuck has now announced that it will continue to do so for an extra year.

Interoperable Subscriptions

This allows creators to give their paying subscribers access to subscriber-only Facebook Groups. The big deal here is that people don’t have to be subscribed to the creator on Facebook- they can be subscribers on any other platform.

Read More:Leaked: Facebook Restructuring Main Feed

Facebook Stars

Facebook Stars is a virtual good that lets fans show their favourite creators some love and vice versa. These will now be available to all eligible creators. That should help them earn more money from Reels, Lives, and VOD videos.

Monetizing Reels

Facebook will open up the Reels Play Bonus Program to more creators on Facebook. They will be able to cross-post their Instagram Reels o Facebook and money from them there as well.

Creator Marketplace

This is still in the testing phase. Basically, it will be a place on Instagram where creators can get discovered and get paid, while brands will be able to share their new partnership opportunities. I thought of this as a job ad site for influencers?

Digital Collectibles

We heard this term before. Adam Mosseri announced Digital Collectibles last month that Instagram will start testing NFTs with select creators in the States. Yesterday, Zuckerberg announced that the test will be expanded, which means more creators can display their NFTs on Insta. The plan is to bring this possibility to Facebook too and enable cross-posting for this feature.

Read More: Instagram Introduces Digital Collectibles

Facebook doesn’t really know when it will launch these new tools and features, but it’s important to know what’s in the making, especially if you’re a creator. Gotta know your options! Also, take a look at what people have to say about this.

Rabije Gashi Corluka

Rabije always enjoyed finding different angles to a story, so it’s not surprising her curiosity influenced a move to a new continent, widening her perspective. She enjoys hearing people's stories and learning about different cultures and places - but most of all, she loves putting her thoughts on a piece of paper. Her love for writing led to her studying Journalism and PR, but she actually became a storyteller during her radio-hosting era. Now, she uses her skills, experience, and love for writing to help your brand stand out.