Meta announces plans to monetize the Metaverse, and creators are not happy

Content creators will be able to monetize in the Metaverse platform, according to initial plans announced on Wednesday. The revenue share for contributors could be as high as 50 percent.

Horizon Worlds is a network of shared 3D spaces that is currently exclusively available on Oculus Quest headsets. (Meta has plans to bring it to mobile, game consoles, and desktop VR in the coming months and years.)

There are already people creating spaces for Horizon Worlds, including a virtual yoga studio and a Second Life-like fast-food brand integration.

Some creators get paid for contract work outside of Meta's system for creating content that brands or other users can use. Meta's announcements show a picture of what to expect.

In-world purchases will be supported by Horizon Worlds. A few creators will be able to sell virtual items. The creator bonus program will be based on how much other users engage with their content.

Meta caused a stir in the online communities when it revealed how much revenue it will take from each transaction.

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Meta confirmed to CNBC that it would take a 25 percent cut for users to purchase an item in Horizon Worlds. Right now, that means Meta's store, which takes a 30 percent cut. Content creators will have to give 30 percent of their profits to the Oculus store or the applicable percentage for whatever platform they choose, then 25 percent of their profits will go to Horizon Worlds.

The creators have just over half of their revenue before taxes.

The announcement has drawn ire from creators in the loosely related NFT community, who are accustomed to single-digit percentage platform takes. There are also accusations of hypocrisy from game developers and others who have seen Meta publicly criticize companies like Apple for charging 30 percent on similar transactions around in-game content.

Meta has brushed off the controversy. The other platforms are able to have their share in the market.

Meta has several different objectives and teams behind them. It is not surprising that an executive of a company like Horizon Worlds is telling a different story than the parts of Meta that are upset with Apple and others.

Content creators say the chunk of the pie they will get on this platform is far less than expected.

Meta has a plan to bring augmented reality, virtual reality, and virtual worlds to the public. The company plans to introduce mass-market augmented reality glasses sometime in 2024, placing it in direct competition with Apple and other companies with similar plans.