{"id":3210,"date":"2022-04-08T05:57:37","date_gmt":"2022-04-08T05:57:37","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=3210"},"modified":"2022-04-08T05:57:38","modified_gmt":"2022-04-08T05:57:38","slug":"meta-to-take-another-stab-at-crypto-this-time-with-zuck-bucks","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=3210","title":{"rendered":"Meta to take another stab at crypto, this time with Zuck Bucks"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n   <\/p>\n<p>Meta\u2019s attempt to bring crypto to the masses failed. Some liken the circumstances of Diem\u2019s end to death by a thousand cuts in that it was long, drawn-out, and tortuous.<\/p>\n<p>But rumors are that Meta\u2019s founder Mark Zuckerberg isn\u2019t ready to give up just yet. The FT was first to report the development of a new virtual currency, with staff working on the project calling it Zuck Bucks.<\/p>\n<p>The term Zuck Bucks is a play (from a monetary perspective) on the meme \u201cZucked,\u201d which refers to being screwed over by Mark Zuckerberg in some capacity.<\/p>\n<p>At this early stage, it\u2019s difficult to tell whether the staffers who coined the name are geniuses or foolish.<\/p>\n<h2>Diem crashes and burns<\/h2>\n<p>Diem officially ended its operations in late January following the $200 million buy-out of the company\u2019s assets by Silvergate Bank.<\/p>\n<p>The bank was already a Diem partner and Silvergate CEO Alan Lane said the acquisition of the assets, which included key engineering staff, would bolster their own stablecoin offering coming later this year.<\/p>\n<p>News that Meta was launching a cryptocurrency first broke in the summer of 2019, under the name Libra. But given its association with the social media giant, the project was a hard sell from the get-go.<\/p>\n<p>What was peculiar about Libra\/Diem was the widespread condemnation from users and authorities alike. Users, generally speaking, disliked the potential privacy implications and centralization aspect, while authorities had issues with Meta holding monetary influence.<\/p>\n<p>Even so, Gemini exchange co-founder Cameron Winklevoss saw the potential in what Meta was trying to achieve. He said there\u2019s room for everyone, enough to be frenemies.<\/p>\n<p>\u201cThere\u2019s so much pie to grow, I mean, at this point, we need to be frenemies.\u201d<\/p>\n<h2>What will Zuck Bucks offer crypto users?<\/h2>\n<p>Being an early stages project, details about Zuck Bucks are thin on the ground at the moment. However, it\u2019s said that it won\u2019t be a cryptocurrency. Instead, it will be an \u201cin-app\u201d virtual currency along the lines of Robux in the Roblox game.<\/p>\n<p>\u201cInstead, Meta is leaning towards introducing in-app tokens that would be centrally controlled by the company, similar to those used in gaming apps such as the Robux currency in popular children\u2019s game <em>Roblox,\u201d<\/em><\/p>\n<p>Robux has no interoperability with other virtual networks\/currencies, and restrictions are in place over \u201cCash Outs\u201d back to fiat, including no more than once a month.<\/p>\n<p>Putting two and two together, it\u2019s entirely feasible that Zuck Bucks would be the native currency of Meta\u2019s Metaverse. Watch this space.<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/meta-to-take-another-stab-at-crypto-this-time-with-zuck-bucks\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meta\u2019s attempt to bring crypto to the masses failed. Some liken the circumstances of Diem\u2019s end to death by a thousand cuts in that it was long, drawn-out, and tortuous. But rumors are that Meta\u2019s founder Mark Zuckerberg isn\u2019t ready to give up just yet. The FT was first to report the development of a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-3210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3210"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3210\/revisions"}],"predecessor-version":[{"id":3212,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3210\/revisions\/3212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/3211"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}