BTC NOON
  • Home
  • Cryptocurrency
  • Bitcoin
  • Ethereum
  • Blockchain
  • Regulations
  • Altcoin
  • DeFi
  • Web 3.0
No Result
View All Result
BTC NOON
No Result
View All Result
Home Cryptocurrency

Meta winds down support for NFTs on Instagram and Facebook

Xiao Chen Sun by Xiao Chen Sun
March 13, 2023
in Cryptocurrency
0
Meta winds down support for NFTs on Instagram and Facebook
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Binance and CEO Changpeng Zhao sued by CFTC over trading and derivative violations

Crypto groups expand in Hong Kong in bid to tap mainland China demand

Binance Employees Trained Users to Bypass KYC and AML Rules (Report)

Appears to be like like Meta is NGMI, as some would possibly put it.

Meta’s head of commerce and monetary applied sciences Stephane Kasriel posted on Twitter that the corporate will sundown its NFT and digital collectibles options on Instagram and Fb.

This short-lived product solely started testing with choose Instagram creators final Could, plus some Facebook customers in June. By July, Meta expanded NFT help on Instagram for creators in 100 nations. Lower than a 12 months later, Meta is transferring on from NFTs.

Some product information: throughout the corporate, we’re trying carefully at what we prioritize to extend our focus. We’re winding down digital collectibles (NFTs) for now to give attention to different methods to help creators, folks, and companies. 🧵[1/5]

— Stephane Kasriel (@skasriel) March 13, 2023

“We’re winding down digital collectibles (NFTs) for now to give attention to different methods to help creators, folks, and companies,” Kasriel wrote in a Twitter thread.

A Meta spokesperson instructed TechCrunch that it’s shifting its investments away from NFTs towards merchandise like Meta Pay, in addition to options that allow creators to earn cash immediately on Meta platforms, like its tipping function referred to as gifts. The corporate additionally mentioned it’s testing methods for creators to earn advert income on Reels.

“Let me be clear: creating alternatives for creators and companies to attach with their followers and monetize stays a precedence, and we’re going to give attention to areas the place we are able to make affect at scale, reminiscent of messaging and monetization opps for Reels,” Kasriel wrote.

Meta has been reducing prices throughout the corporate because it scrambles to make its metaverse goals a (digital) actuality. Actuality Labs, the division of Meta that works on AR and VR merchandise, misplaced $13.7 billion final 12 months. In November, Meta laid off 11,000 employees, or about 13% of its world workforce, marking the biggest cuts in firm historical past. And as Meta weathers this storm, the hype round NFTs has died down considerably. On the time, Meta’s curiosity in NFTs appeared prefer it might intersect with its plans for a digital actuality metaverse — CEO Mark Zuckerberg has said that he hoped customers would at some point be capable to mint digital clothes as NFTs, for instance.

Meta instructed TechCrunch that the corporate will proceed keeping track of crypto for the long run.





Source link

Tags: FacebookInstagramMetaNFTssupportwinds
Share30Tweet19
Xiao Chen Sun

Xiao Chen Sun

Recommended For You

Binance and CEO Changpeng Zhao sued by CFTC over trading and derivative violations

by Xiao Chen Sun
March 27, 2023
0
Binance and CEO Changpeng Zhao sued by CFTC over trading and derivative violations

Binance, the world’s largest crypto exchange by volume; its CEO Changpeng Zhao; and Chief Compliance Officer Samuel Lim, are being sued by the U.S. Commodity Futures and Trading...

Read more

Crypto groups expand in Hong Kong in bid to tap mainland China demand

by Xiao Chen Sun
March 27, 2023
0
Crypto groups expand in Hong Kong in bid to tap mainland China demand

Cryptocurrency companies are rushing to Hong Kong in the hope that the city’s high-profile push to become a hub for digital assets will help them to capture demand...

Read more

Binance Employees Trained Users to Bypass KYC and AML Rules (Report)

by Xiao Chen Sun
March 27, 2023
0
Binance Employees Trained Users to Bypass KYC and AML Rules (Report)

On March 23, CNBC reported that a group of Binance angels shared techniques that allow users to bypass the platform’s KYC, residency, and verification systems. CNBC confirmed the...

Read more

Empowerment Over Fear: Bitcoin, Home Birth And Responsible Sovereignty

by Xiao Chen Sun
March 26, 2023
0
Management Software Can Help Bitcoin Miners Realize Their Energy Potential

“I've gained a lot of sovereignty through … Bitcoin, and I'm equally grateful that my partner has done the same by choosing home birth.” This is an opinion...

Read more

Ticketmaster sucks. Can blockchain be the cure?

by Xiao Chen Sun
March 26, 2023
0
Ticketmaster sucks. Can blockchain be the cure?

Welcome to the TechCrunch Exchange, a weekly startups-and-markets newsletter. It’s inspired by the daily TechCrunch+ column where it gets its name. Want it in your inbox every Saturday?...

Read more
Next Post
hybrid networks powered by IBM Blockchain Services & CasperLabs at Davos 2022 IBM Supply Chain and Blockchain Blog

hybrid networks powered by IBM Blockchain Services & CasperLabs at Davos 2022 IBM Supply Chain and Blockchain Blog

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

SkyBridge Capital CEO Anthony Scaramucci Says SEC Should Be Kept in Check With New Pro-Crypto Initiatives

SkyBridge Capital CEO Anthony Scaramucci Says SEC Should Be Kept in Check With New Pro-Crypto Initiatives

March 21, 2023
StarkWare Plans to Open Source Its Tech for Ethereum Scaling

StarkWare Plans to Open Source Its Tech for Ethereum Scaling

March 19, 2023
The Ongoing March Towards Decentralized Identity

The Ongoing March Towards Decentralized Identity

March 19, 2023

Browse by Category

  • Altcoin
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Cryptocurrencies
  • Cryptocurrency
  • Culture
  • DeFi
  • Education
  • Ethereum
  • Featured
  • News
  • Regulations
  • Uncategorized
  • Web 3.0

Recent News

CFTC calls ETH a commodity in Binance suit, highlighting the complexity of classification

CFTC calls ETH a commodity in Binance suit, highlighting the complexity of classification

March 27, 2023
How to Create your Own Cryptocurrency

How to Create your Own Cryptocurrency

March 27, 2023
Ethereum [ETH] whales play ‘shy guy’ ahead of Shanghai Upgrade

Ethereum [ETH] whales play ‘shy guy’ ahead of Shanghai Upgrade

March 27, 2023

Categories

  • Altcoin
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Cryptocurrencies
  • Cryptocurrency
  • Culture
  • DeFi
  • Education
  • Ethereum
  • Featured
  • News
  • Regulations
  • Uncategorized
  • Web 3.0

Follow Us

Find Via Tags

Bank banks Binance Bitcoin Blockchain Blog BTC Chain Circle coin Coinbase Crypto data decentralized DeFi digital ETH Ethereum Exchange Fed finance Financial Foundation FTX Heres high Hit hits IBM Launches market Network Platform Polygon Price Project Report SEC Shanghai Stablecoin Supply Top Trading USDC Web3

© 2023 BTC NOON | All Rights Reserved

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Ethereum
  • Blockchain
  • Regulations
  • Altcoin
  • DeFi
  • Web 3.0

© 2023 BTC NOON | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?