To The Moon

Meta $Meta Platforms, Inc.(FB)$  is starting to test tools for selling digital assets that include NFT and experiences within its virtual reality (VR) platform Horizon Worlds. A key focus is the “creator bonus” program where creators would be paid by Meta to adopt new features launched and design and build awesome VR worlds. Underscoring its seriousness, Meta said it is no mere side gig, but one that would virtually transform the lives of architects and designers –able to earn a living on Metaverse.

It seems a logical next step on the back of “Zuck Bucks” announcement, on where and how one could be paid or spend virtual currency, as Meta makes more big bets on Metaverse.

Taking a ‘bite’ from Apple?

These are reminiscent of strategies Apple used when it launched the App Developers program and App store in 2008, to create an ecosystem of developers and consumers for its iOS platform apps. More than a decade on in 2021, even though Apple paid App developers a whopping $60 billion, Apple benefitted even more, with revenue reaching $85.1 billion, and 785 million in paid subscriptions in the iOS ecosystem.

Meta – above and beyond

So, will this initiative be another much needed catalyst to start transforming Meta above and beyond reliance on ad-sales revenue, and jolt its stock price out of ‘inaction’ and doldrums?

Looking at $Meta Platforms, Inc.(FB)$ Daily chart, if 20 MA could cross 50 MA from below and prices are supported before moving upwards, we would target at least the previous gap down price of around $245 (+11%). The next big price upside target would be to fill the gap since the Feb 2022 price drop of around $295, (another +20%), but these would need further catalysts or metamorphoses, in my view!