NFThas become very common in recent years. These tokens, which confirm that a digital asset is unique and therefore not interchangeable, and are launched as a unit of data stored in a digital ledger called a blockchain, are now appearing in all areas of life. However, NFTs are far from their old days as of 2023. When this is the case, companies investing in this field have gradually started to shift their focus in different directions. Meta, one of these companies, announced in its latest statement that they will reduce NFT support.
Meta to reduce NFT support for Facebook and Instagram
2021 has been a turning point for Facebook. The company announced that it is rebranding Facebook Connect in 2021. Thus, all services connected to the platform came under the umbrella of the newly established Meta company. In this process, the company, which made serious investments in projects such as NFT and Metaverse, made a critical decision considering the recent situation of NFTs.
MetaStephane Kasriel, Head of Commerce and Financial Technologies, on Twitter Instagram And Facebook for Reducing NFT support announced their decision. Kasriel did not offer any reason for his decisions, simply saying that we want to focus on areas such as Reels that can have large-scale impact. Of course, this should not mean that NFT work on the Meta front will be completely terminated. However, if the trend is negative, decisions may come in this direction in the future.
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Here’s Stephane Kasriel’s statement on NFTs:
“We are taking a close look at what we prioritize to increase our focus across the company. We’re cutting back on digital collectibles (NFTs) for now to focus on other ways to support manufacturers, people and businesses.
“A big thank you to our partners who have joined us on this journey and are doing great work in a dynamic space. I am proud of the relationships we have built. And we look forward to supporting the many NFT creators who continue to use Instagram and Facebook to power their work.
Creating opportunities for creators and businesses to connect and monetize their fans remains a priority, and we will focus on areas where we can make an impact at scale, such as Reels.”
What is NFT?
english Non-Fungible Token NFT means free token; This basically means it’s a one-of-a-kind digital asset that’s just yours. NFTs, which have become popular in both the financial and art worlds, are a unique identifier that can prove ownership of digital products.
shiftdelete.netNFT technology has become even more popular in that it makes it difficult to modify or imitate music, games, movies, and similar works of art. Representing a currency on the blockchain tokencan be traded in cryptocurrencies such as Ethereum or Bitcoin NFT Coin not possible. Because NFTs have a digital signature that cannot be copied.
So what do you think about this subject? Do you think the era of NFTs is over? Do not forget to share your views with us in the comments section!