Facebook and Instagram want to stop digital collectibles, or NFTs, features. These measures should take effect in the next few weeks.
After the big hype about digital collectibles, Facebook and Instagram are now discontinuing the functions related to the so-called NFTs.
The step is part of the ongoing focus on priorities, came from a tweet by the responsible manager of the Facebook group Meta, Stephane Kasriel, on Twitter on the night. A spokesman for the technology blog “The Verge” explained that the possibility of sharing NFTs via Instagram and Facebook will be eliminated in the coming weeks.
NFTSs (non-fungible tokens) are something like digital certificates of authenticity. They ensure that among a large number of potentially completely identical copies, only one file can be considered the signed original, so to speak. The NFT hype peaked around two years ago when a digital artwork sold for more than $69 million. Among other things, NFTs were seen as a way of owning and trading digital objects in virtual worlds – Facebook founder Mark Zuckerberg speaks of the “metaverse”. Since then, however, enthusiasm for both NFTs and the Metaverse has waned noticeably.
