Meta ‘winding down’ support for NFTs on Facebook, Instagram: Official

Meta is “winding down” support for non-fungible tokens (NFTs) on Facebook and Instagram.

Meta’s head of commerce and financial technologies, Stephane Kasriel, tweeted on Tuesday: “Across the company, we’re looking closely at what we prioritise to increase our focus. We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses.”

“Proud of the relationships we built. And look forward to supporting the many NFT creators who continue using Instagram and Facebook to amplify their work.”

He further mentioned that the company is “continuing to build to support creators, people, and businesses on our apps, both today and in the metaverse.”