Meta stops development of NFT projectsIf you don't remember, Meta (recognized as an extremist organization in Russia and banned) launched the NFT marketplace back in November 2022. The company hoped that NFT would help authors monetize content.
Perhaps due to the low popularity of the new features, the company decided to stop developing the NFT direction. Instead, Meta will switch to Reels monetization and transaction optimization using Meta Pay.
The Meta representative noted that the company will still support NFT creators. However, it is not very clear exactly how they will do it.
By the way, the other day the WSJ talked about new cuts in the company. A coincidence?
@informationNFT
