In May this year, it was announced that Facebook Pay would be renamedAdjusted to Meta PayLater, Meta CEO Mark Zuckberg further explained that this adjustment was in preparation for the subsequent creation of the Metaverse wallet service.
In a previous statement, Meta revealed that after adjusting the name of the e-wallet service, it will further simplify the cross-platform usage experience, so that all payment transaction needs within the Metaverse environment can be met through a single e-wallet.
In the future, Meta Pay will make it easier to manage personal digital identities and virtual items, and will be able to purchase various virtual clothing, artwork, music content, and various online virtual experiences within the metaverse. It will also be able to prove the ownership of various digital items between more metaverses in the future, thereby maintaining their use in different metaverses.
Although Mark Zuckberg’s description seems a bit like a cryptocurrency wallet that combines blockchain technology, Meta has not yet disclosed whether it will integrate blockchain technology into its metaverse development blueprint.
Prior to this, Meta announced that NFT content could be used on Instagram and Facebook. Earlier, it had also invested in the development of cryptocurrency technology, but ultimately ended in failure. Therefore, it was subsequently reported that Meta intended to launch a cryptocurrency technology that was not based on blockchain.
It is not yet clear how Meta will integrate Meta Pay services with the development of the Metaverse, but it is expected that as the development of Metaverse technology gradually forms more standardized specifications, more clear application models will emerge.
