A year after Meta announced its support for collectible digital items or NFTs on its social networks (known as extremist and banned in Russia), the decision to quit was made. It has been reported crushable.
Stefan Kasriel, Head of Commerce and Fintech, said Meta’s NFT is on both Instagram (the owner of Meta is considered and banned in Russia) and Facebook (the owner of Meta is considered an extremist in Russia). announced that it was disabled and banned). According to him, the funds released will be diverted to other avenues to support creators and businesses.
Kasriel stressed that the company will continue to place great emphasis on ways to monetize content on its sites – in particular, we are talking about the development of the Meta Pay service, which may soon support cryptocurrencies. Additionally, the emergence of monetization on Reels has not been ruled out to allow creators to monetize their short videos. As Mashable points out, Mark Zuckerberg’s company has so far been “out of luck” with crypto projects – for example, the Libra cryptocurrency was rejected by regulators and the Novi crypto wallet project was shut down a year after its launch.
Formerly socialbites.ca we talked about itMeta plans to launch a rival social network to Twitter.