Meta provides up on NFTs for Fb and Instagram

Image of Meta’s logo with a red and blue background.
Illustration by Nick Barclay / The Verge

Meta is “winding down” its work with NFTs on Fb and Instagram, Meta commerce and fintech lead Stephane Kasriel stated in a Twitter thread on Monday. The choice means Meta will finish its assessments of minting and promoting NFTs on Instagram in addition to the flexibility to share NFTs on Instagram and Fb within the coming weeks, Meta spokesperson Joshua Gunter confirmed in an e mail to The Verge.

“Throughout the corporate, we’re trying intently at what we prioritize to extend our focus,” Kasriel stated. “We’re winding down digital collectibles (NFTs) for now to deal with different methods to help creators, individuals, and companies.” As an alternative, the corporate is specializing in “areas the place we will make influence at scale,” like messaging and monetization on Reels and on…

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