Snapchat Tests New Upgrades 

Snap has announced that it is testing digital goods that can be purchased with Snap Tokens. The experiment, according to Snap, is being conducted with several creators and developers of augmented reality. As part of the experiment, users will be able to unlock power-ups, augmented reality items and additional tools in selected lenses.

According to Snap’s own data, 363 million people use its camera technology every day, and Snapchatters use an average of 6 billion daily augmented reality experiences, out of 250,000, with approximately 80% of these creators outside the US.

So far, this year’s biggest announcement opens up a new potential revenue stream for Snap creators and developers. The company plans to start experimenting with a new type of AR Lens used to buy and sell digital goods directly in the app. The transactions will use “Snap Tokens”, a virtual currency that the company first introduced in 2020.  Right now, Snap users can purchase tokens directly through the app and then use them to send gifts or tips to their favorite creators, or exchange them for exclusive items. In the future, these tokens will also unlock digital goods in Lenses.

This is one of several new e-commerce strategies that Snap has been trying out lately as it tries to encourage more users to consider the app as a place to shop.