Meta is killing NFT support on Facebook and Instagram

This comes nearly a year after Meta founder Zuckerberg announced a push into "digital collectibles."

According to a report, Meta Company is shutting down NFT support on Facebook and Instagram.

Some experts say that NFT support is being discontinued to draw attention to the different ways businesses can support creators.

"We are discontinuing digital collectibles (NFTs) for the time being to focus on other ways to support creators, people and businesses," said Stephen Kasriel, 

He added that the company would instead focus on "opposing monetization for reels" and "message payments across the meta".

Kasriel has yet to elaborate on why Meta is reversing course on NFTs.

The company has also cut projects with its Metaverse division, Reality Labs, and its paid program, which is due to pay bonuses to reel creators.

Meta has also shut down its crypto wallet Novi which was once rumored.