Meta, formerly known as Facebook, is discontinuing its support for NFTs on Facebook and Instagram, less than a year after debuting the digital collectibles on its platforms. The move comes as the social media giant continues its “year of efficiency,” which has seen it lay off thousands of workers and shutter numerous projects. Meta’s Head of Commerce and Financial Technologies, Stephane Kasriel, confirmed the decision in a recent update on Twitter, stating that the company had learned a lot from the NFT experiment and would now focus on other ways to support creators, people, and businesses.
Image Source - Twitter
