The introduction of MetaPay marks a significant shift as it will replace the existing Facebook Pay system and is geared towards providing seamless transactions in the Metaverse.

Mark Zuckerberg has introduced the Meta’s MetaPay is set to take the place of Facebook’s previous payment infrastructure, Facebook Pay, which has enabled users to transact within Facebook, WhatsApp, Instagram, and Messenger without exiting those applications.

On a recent Wednesday, Mark Zuckerberg introduced MetaPay as a 'digital wallet for the Metaverse' via his Facebook page. He assured users that this new wallet would replicate the features of Facebook Pay. Additionally, Meta has rolled out updated tools and features to support monetization for creators on Facebook and Instagram, promising to waive fees on subscriptions, badges, and paid online events until January 2024.

Mark Zuckerberg stated, 'In a perfect world, once you log into any metaverse interaction, all your purchases should be readily available. Achieving that might be a long journey, but this level of interoperability would greatly enhance user experiences and create bigger opportunities for creators.' announced The company, leveraging its augmented reality platform SparkAR, is also progressing with trials of digital collectibles alongside various creators from different countries across the globe.

'Our long-term commitment to creators requires investment in web3 technologies and digital collectibles like NFTs. This initiative is essential as we construct the metaverse,' remarked the company. said . 

Meta will begin testing NFTs on Instagram Meta is collaborating with industry leaders such as Adobe, Nvidia, Microsoft, Epic Games, and Qualcomm to establish a standards body for the Metaverse. Surprisingly, Apple is notably absent from this collaborative initiative. The objective is to create compatibility standards across various virtual worlds developed by these firms. Mark Zuckerberg has also showcased new prototype headsets developed by Meta; you can check out the video.

Zuckerberg confirmed that Instagram will be integrating NFTs within a few months.

Earlier this week, Meta  announced Mark Zuckerberg demonstrated Meta’s Project Cambria virtual reality headset in a somewhat peculiar promotional video that featured blurring effects. here .

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