Meta is 'winding down' its NFT-related development just under a year after it launched features for 'digital collectibles.'
Big Tech firm Meta is scrapping its nonfungible token feature across its social media platforms Facebook and Instagram just under a year after it launched.
Stephane Kasriel, Meta's head of commerce and financial technologies, tweeted the news on Mar. 13, saying Meta is"winding down" its NFT support as it wishes to"focus on other ways to support creators, people, and businesses." Some product news: across the company, we're looking closely at what we prioritize to increase our focus. We’re winding down digital collectibles for now to focus on other ways to support creators, people, and businesses.
The product was relatively short-lived as testing began in May 2022 with select United States-based creators on Instagram
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