Meta ‘winding down’ work on NFTs for Facebook and Instagram

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    meta Deprecate support for non-fungible tokens (NFTs) and other digital collection features across the platform.

    Facebook‘s parent company only started testing features on its platform last year. Instagrambut has now announced that it will focus on other ways to support its users.

    “We are scrutinizing what we prioritize to increase our focus. In the meantime, we are scaling back our Digital Collectibles (NFTs) to focus on other ways to support creators, people and businesses. To do.

    NFTs This is a photo that will be sold Use Cryptocurrency whose receipt held on the blockchain.

    Last year, Meta chief Mark Zuckerberg said that users View existing NFTs and potentially Mint new stuff for instagramdigital token technology The company’s metaverse vision.

    The clothes your avatar wears in the Metaverse are basically NFTs You can take it to different places,” he said.

    But now, the company seems to be pivoting towards ideas like messaging payments and “against reel monetization.”

    “Creating opportunities for creators and businesses to connect with and monetize their fans remains a priority, and we intend to focus on areas where we can make an impact at scale, such as reel messaging and monetization opportunities.” said Kasriel.

    “We are proud of the relationships we have built, and look forward to supporting the many NFT creators who continue to expand their work using Instagram and Facebook.”

    The company aims to move away from NFTs and streamline payments via products like Meta Pay to make checkout and payments easier.

    “We have learned a lot, both today and in the metaverse, that we can apply to the products we continue to build to support creators, people and businesses in our apps,” said the head of commerce and fintech. increase.


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