The company will focus on other aspects of the business
Meta has announced it won’t be going ahead with its NFT and digital collectibles features on Facebook and Instagram.
The project has only been around for a year, and the company has revealed it is shelving the NFT concept.
“We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses,” Meta’s head of commerce and financial technologies Stephane Kasriel wrote in a Twitter thread.
“Let me be clear: creating opportunities for creators and businesses to connect with their fans and monetise remains a priority, and we’re going to focus on areas where we can make impact at scale, such as messaging and monetisation opps for Reels.”
Meta has been cutting costs across the company as it scrambles to make its metaverse dreams a (virtual) reality.
