Meta’s Virtual Reality Programmers Earn $1 Million

In recent years, Meta, the parent corporation of Facebook, Instagram, and WhatsApp, has indicated interest in expanding into the metaverse. This interest comes as a result of the rapid growth of all three of these platforms. Even though the company’s section responsible for developing the metaverse, Reality Labs, is projected to incur enormous losses of $13.7 billion over the period of 2022, Facebook’s chief executive officer, Mark Zuckerberg, is unwavering in his dedication to the company’s long-term ambition.

In spite of the company’s financial woes, a recent article published in The Wall Street Journal revealed that total remuneration for Meta’s virtual reality programmers may reach up to one million dollars. According to the claim, which cites unnamed persons with knowledge of the situation as its source, salary packages for metaverse developers at Meta vary from around $600,000 to roughly one million dollars annually.

The intentions that Meta has for the metaverse have been greeted with opposition from several parties, including the Federal Trade Commission, which has filed a lawsuit against Meta in an effort to prevent the latter from acquiring a virtual reality firm. Because of the “serious risks” involved and the potential for damage, two senators from the United States have also asked Zuckerberg not to provide teens access to the metaverse platform Horizon Worlds.

In spite of the difficulties, Meta is carrying out its ambitions in the same manner as before. A court in the United States gave the business in question permission to go through with the purchase in February of 2023. Additionally, on March 13, the head of commerce and finance technologies at Meta made an announcement that the company will be discontinuing its support for nonfungible tokens on Facebook and Instagram for the time being. This decision was made in order for the company to concentrate on finding alternative methods to promote artists, individuals, and companies.

The fact that Meta is so focused on the metaverse brings a variety of possibilities and difficulties to the table for the organization. The company’s high compensation for virtual reality programmers may raise doubts about the company’s spending priorities, given the enormous losses that have been incurred in the company’s metaverse-building section. Despite this, it seems that Meta is resolved to go through with its plans for the metaverse in spite of Zuckerberg’s unflinching commitment to the long-term vision.


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Crypto salaries are becoming a popular way to attract young talent

Athletes and politicians made headlines as they opted to get paid in crypto earlier this year. Now, in an attempt to attract a younger workforce, companies are starting to offer crypto salaries. 

A recent CNBC article highlighted two different cases where young talent is paid in crypto. University student Stephen Gerrits and artist Tiyanna Brown decided to receive their pay in cryptocurrencies. Gerrits works part-time at a tech startup, while Brown sells digital art in exchange for Ether (ETH).

According to Gerrits, he earned more than what he would’ve made in cash due to crypto price changes. However, it doesn’t just always go up. He said that he lets it be, and he finds joy when the prices go up, but the fun ends when prices go down.

Since his bills are covered by other income, he considers his crypto investment. “Why not take the chance or the opportunity to kind of strike it rich, get some money out of it,” he questions.

Meanwhile, 29-year old Tiyanna Brown sells art on Rarible, a platform that lets you receive ETH as payment for your digital art. Brown is optimistic that this will provide better results in the long run. “It’s almost like licensing, so every time someone uses your art, you gain a percentage,” she said. Brown also mentioned that she wants to see the words ‘starving artist’ as “a thing as of the past.”

In 2021 alone, many reports show that athletes are getting paid in crypto. In August, soccer star Lionel Messi received fan tokens for his deal with Paris Saint-Germain. In November, National Football League players Odell Beckham Jr. and Aaron Rodgers chose to accept crypto payments. The former said he would take his full NFL salary in Bitcoin (BTC) while the latter would receive only part of his salary in BTC.

Aside from these, in response to a challenge by Bitcoin evangelist Anthony Pompliano, three US politicians declared that they would accept their salaries in BTC. Miami Mayor Francis Suarez, New York Mayor-elect Eric Adams, and Tampa Mayor Jane Castor said they would take BTC paychecks.

Related: Recruiters say crypto firms seeking leadership in engineering, legal and finance

Back in November, LinkedIn reported that crypto-related job listings increased by 600% since August 2020. Aside from this, large finance companies also offered big bonuses to attract more crypto talent. HR firm Johnson Associates says that crypto positions pay 20 to 30 percent higher than comparable non-crypto positions.

There are also some setbacks when opting to get paid in crypto. One of them is your employer demanding to get the payment back. A letter sent by an unnamed employee to MarketWatch’s The Moneyist says that the employee received crypto for contract work. Following this, the token surged by 700%. The company’s CEO then sent the employee an email to return the digital assets and offered to pay in dollars.