USA based giant company Meta, “digital collectibles” or as it is known NFTLess than a year after the start of efforts to adopt the Facebook And InstagramIt cuts its support for NFTs in . This development comes at the same time that Mark Zuckerberg laid off thousands of workers and shut down numerous projects in what the company described as its “productivity year.”
MetaHead of Commerce and Financial Technologies Stephen Kasriel, In an update shared on Twitter, “to focus on other ways to support creators, people and businesses.” digital collections “For now, we’re reducing it,” he said. we learned a lot“
The company insteadreels to monetization opportunities” and “Meta It is said to focus on “messaging payments” across the country.
NFT did not meet expectations
Kasrieldid not elaborate on why Meta reversed course on NFTs, which Zuckerberg suggested could play a role in the company’s metaverse plans. “Hopefully, in the metaverse, the outfit your avatar is wearing can basically be an NFT and you can move it to different places,” he said during SXSW last year.
NFTs aren’t the only attempts at Meta that have failed. Last year, the company closed its crypto wallet Novi, which is said to be of great importance in its roadmap and also has NFT support.