Meta is killing NFT support on Facebook and Instagram

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

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

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

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

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

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

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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.

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

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