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Hey Waivly Crew! 🌊 Meta plans to take a 47.5% cut of all digital asset sales on its Horizon Worlds platform. An Ethereum developer has confirmed that the long-awaited Ethereum Merge will come later than expected.

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Meta plans to take a 47.5% cut on virtual assets sales in its metaverse

Meta has announced plans to take a cut of up to 47.5% of all digital asset sales on its virtual reality platform Horizon Worlds, the company’s first step to creating its “metaverse”.

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Earlier this week, the social media giant announced in a blog post that it is letting select Horizon Worlds creators sell digital assets within its virtual world. However, Meta failed to mention how much they will charge creators to sell them.

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“The ability to sell virtual items and access to things inside the worlds is a new part of [the] e-commerce equation overall,” Zuckerberg said. “We’re starting rolling this out with just a handful of creators, and we’ll see how it goes, but I imagine that overtime, we’ll get to roll it out more and more.”

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We now know Meta will take a 47.5 percent cut on every asset sold in Horizon Worlds. This cut includes a “hardware platform fee” of 30 percent for sales made through the Meta Quest Store, in addition to Horizon Worlds charging a 17.5% fee.

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This comes after Meta CEO Mark Zuckerberg took a swipe at Apple charging app developers a 30 percent fee for in-app purchases. In November, Zuckerberg explained Meta plans to make it easier for developers to earn more for their work, saying:

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“As we build for the metaverse, we’re focused on unlocking opportunities for creators to make money from their work. The 30% fees that Apple takes on transactions make it harder to do that, so we’re updating our subscriptions product so now creators can earn more.”

Ethereum Merge delayed to Q3 2022

Ethereum Foundation developer Tim Beiko has said the blockchain’s highly-anticipated upgrade known as the Merge will come in Q3.

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In a recent tweet, Beiko shared that the network's transition to proof-of-stake will take place later than expected: “It won’t be June, but likely in the few months after,” Beiko clarified. “No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum.”

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The Merge marks Ethereum’s shift to a proof-of-stake (PoS) mechanism for securing itself. Since Ethereum launched back in 2015, the blockchain has used a proof-of-work (PoW) mechanism, whereby a decentralized network of computers competes to validate transactions.

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Ethereum’s eventual transition to PoS aims to dissolve all issues surrounding the blockchain’s carbon and energy footprint problem. According to Digiconomist, Ethereum currently emits53.68 megatons of carbon dioxide into the atmosphere every year, comparable to the carbon footprint of Singapore.

The Waves

👀 7 NFT projects with unlimited potential

🖼️ Sotheby’s announce generative art NFT auction

🚀 Azuki is going to space with NASA and SpaceX

🤔 BlackRock is studying cryptocurrencies and stablecoins

Hustle Special

5 Twitter accounts to follow for motivation

While Twitter is by far the best way to stay informed on everything going on in the world, it’s become very easy to get sucked into the timeline vortex, and before you know it, hours have gone by. Here are four that will help keep you motivated and learning 24/7.

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AlexMaeseJ

Need a boost of motivation but don’t have much free time? Alex Maesej is a digital artist who creates visual stories focusing on motivation, perspective, dedication, and other important topics to help improve his followers' lives.

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The_MMW

The Millennial Money Woman, also known as Fiona, writes regular threads and other content in her newsletter primarily on how anyone can start their journey to achieving financial freedom.

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Sachin Ramje

Similar to Alex, Sachin Ramje is the go-to person to follow if you’re a visual learner. Through hyper-visual threads, Sachin shares endless knowledge and motivation that can be read in seconds.

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Loopify

If you’re an NFT creator or just want to learn more about space, Loopify is the perfect person to follow. With over 177,000 followers, Loopify tweets daily guides and opinions everyone should take time to read.

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Justin Kan

Justin Kan is an entrepreneur and investor widely known for co-founding Twitch, a popular live streaming platform. Since Justin sold Twitch for $970M back in 2014, he has spent a lot of time helping entrepreneurs with his content.

Nexo launches 'world first' crypto-backed payment card

Crypto lender Nexo has teamed up with global payments giant Mastercard to launch the world's first crypto-backed card.

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Nexo has teamed up with DiPocket, the company’s card issuer for the new offering in Europe, and Mastercard as the tech company and payment network to launch Nexo Card: a crypto card that will allow users to use their crypto as collateral rather than selling them.

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The card is linked to a Nexo-provided crypto-backed credit line that allows multiple assets to be used as collateral, including but not limited to Bitcoin, Ethereum (ETH), and the Tether (USDT) stablecoin.

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“Launching the Nexo Card in Europe in partnership with Mastercard and DiPocket is a big milestone for us and the latest proof of the immense synergy between the existing financial network and digital assets. This unique product will allow millions of people, first in Europe and then worldwide, to spend instantly without having to give up the potential of their cryptocurrencies, thus offering unprecedented everyday utility for the emerging asset class,” said Antoni Trenchev, Co-founder and Managing Partner at Nexo.

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Notably, there are no limits on how much a cardholder can spend or remove from the open credit line, and interest is only charged on the credit that is spent. Cardholders with a loan-to-value ratio of 20% will not be required to pay any interest.

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According to the company's website, the card is now available in "select European markets." Currently, Nexo Card is available to citizens of 29 countries, including Belgium, Cyprus, the Czech Republic, Finland, France, Germany, the United Kingdom, and others.

Own and secure your crypto with Ledger

If you’re into cryptocurrency and own crypto assets, you need a secure place to store your coins and tokens. You probably already know that you shouldn’t store your crypto on an exchange due to potential hacks, not being solely in control of your crypto’s private keys, and for other reasons, and so a hardware wallet is the way to go and the best option to protect your private keys, therefore, you should make the move to a Ledger wallet.

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Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.

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The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.

Share The Wave

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*Waivly+ is a premium Waivly membership. Join at anytime by clicking “Subscribe” on the Waivly website, and cancel anytime by heading to your account on Waivly.

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