Meta is Its support for NFT on Facebook and Instagram less than a year after its push to adopt “digital collects” on its platform. The update comes when the social network has dismissed thousands of workers and closed many projects in the midst of what Mark Zuckerberg has as an efficiency year of the company.
“For the moment, we delete digital collectibles (NFTS) to focus on other ways to support creators, people and businesses,” wrote Stéphane Kasriel, head of trade and financial technologies in Meta in a Shared on Twitter. “We have learned a ton that we will be able to apply to the products that we continue to build to support creators, people and businesses on our applications, both today and in the metavese.” He added that the company would rather focus on “monetization opps for coils” and “messaging payments on meta”.
The update comes almost exactly a year after Zuckerberg took the SXSW scene that Instagram worked on the NFT support, which made its debut. The company announced another important expansion of functionality in November, when it revealed its intention to authorize creators to collectibles directly on Instagram.
Kasriel did not explain why Meta reversed the course on the NFT, which Zuckerberg had suggested could play a role in the role of the company “I hope you know, the clothes that your avatar carries in the metavese, you know, may be mainly struck the last year.
But it is not the only ambitious initiative that has fallen flat in the past year. Meta also closed her cryptographic portfolio, which would formerly have on her roadmap last year. The company has also reduced projects with its Metaverse division, Reality Labs and its program which paid for the wrapped creators.
