Not even a year after Meta introduced support for NFTs on Facebook and Instagram, they have announced that they are discontinuing the effort. Meta’s Head of Commerce and Financial Technology wrote on Twitter:
We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses… We learned a ton that we’ll be able to apply to products we’re continuing to build to support creators, people, and businesses on our apps, both today and in the metaverse.
Instead, the company will focus on generating revenue on Reels and the ability to send money within Meta’s chat apps.
