Written by Yusuf Balogun
Meta said it has decided to wind down support for NFTs on Facebook and Instagram. This comes a year after pushing for the adoption of digital collectables.
Stephane Kasriel, Meta’s Head of Commerce and Financial Technologies, announced the decision on Twitter and said Meta is ending NFT support for Facebook and Instagram without any reason.
Previously, Mark Zuckerberg had announced Instagram’s work on NFT support at SXSW in March 2021, and the feature was launched in May of the same year.
Then, he believed NFTs could play a role in Meta’s metaverse plans, stating that he hoped users could mint their avatar’s clothing as NFTs.
This led to Meta expansion in November 2021, allowing creators to mint and sell collectables directly on Instagram.
Unfortunately, the social media platforms, have announced today that its ending NFT Support for Facebook and Instagram.