It's no secret that Facebook lacks original ideas. Their features are mostly copied from others in an attempt to elbow out the competition. Instagram was a purchase along with WhatsApp. Reels was them stealing Snapchat's idea. Copying bad ideas is a new one for them. It has come to light thanks to Ben Mayo at 9to5Mac. Facebook will look to copy Twitter's paid verification feature in the near future. A quick reminder: this is the paid feature that was a disastrous failure for Twitter.
The subscription plan called Meta Verified will cost $11.99/month if bought on the web, and $14.99 if bought through Facebook or Instagram’s iOS app, reflecting Apple’s 30% commission.
Meta Verified will be launching first to Facebook users in Australia and New Zealand this week, before rolling out to other countries “soon”.
In his announcement post, Zuckerberg said the initiative is designed to increase authenticity. Unlike Twitter’s similar offering, Meta Verified requires users to provide government ID for identity authentication as part of sign up.
9to5Mac
Facebook Meta has never shied away from making money. Their hoovering-up of user data and tracking data across apps and the web have made their advertising targeting quite powerful. But with more forays into the laughable "metaverse" with the Quest headsets, the company has been bleeding cash.
The one advantage Meta has over Twitter's crash & burn approach is the requirement of a valid ID in order to get verified. You know, the way Twitter verification worked before Lord Manchild was forced to buy it. By letting Twitter prove out all the wrong ways to do something, Meta has been left in the advantageous position to roll out a paid system without those easily-avoided pitfalls.
It is hard to imagine how many companies and notable people will sign up for their Verified service, but I will be interested to see how it impacts any future revenue. Given the pace at which they're setting money on fire, more streams of incoming cash can't come soon enough.