mark zuckerberg would he have regretted having embarked his empire in the Web3? ‘Cause the latest news suggests thathe is turning back. Besides thefailure of its Diem cryptocurrencysetting discontinuation of its Novi digital wallet, Meta would also have acknowledged that his metaverse has come up against reality. Now it’s his turn NFT integration project on Facebook and Instagram to fall into the water.
NFT and Meta, divorce set for April 11
The idea ofassociate non-fungible tokens with Instagram germinated in the mind of Mark Zuckerberg and his team in March 2022. At that time, they wanted collectors and creators of digital objects to have the right to share them on IG without having to pay a fee.
Added to this innovation was the deployment of this functionality outside the United States, that is to say in more than 100 countries. History of further democratize NFTs on the Instagram platform.
On the cake, the storage of NFT was made possible on the same platform thanks to a collective hard disk invented by Arweave.
It all looks very good until Stephane Kasrielthe head of Meta commerce and Fintech, posted THE Morbid Twitter thread from March 14th.
” Some product news: Across the company, we’re taking a hard look at what we prioritize to better focus. We are phasing out digital collectibles (NFTs) for now to focus on other ways to support creators, people and businesses. »
According to Cryptopolitan, Meta will completely rid Instagram and Facebook of anything related to non-fungible tokens this April 11. Thus, there will be no more digital collection data or wallet addresses on these platforms.
Cold shower for artists and investors?
Of course, this kind of announcement did cause a shock wave at the level of NFT artists and investors. But Meta promised not to give up on art lovers so easily.
” I want to make it clear that creating opportunities for creators and businesses to connect with their fans and monetize remains a priority, and we’ll focus on areas where we can have impact at scale, such as messaging and monetization opportunities for Reels. »
” And we will continue to invest in fintech tools that people and businesses will need in the future. We’re streamlining payments with Meta Pay, making checkout and payments easier, and investing in messaging payments through Meta. »
Provided that his metaverse project does not suffer the same fate as that of Walt Disney either.
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