Meta gives up on NFTs for Facebook and Instagram

Meta, the well-known company behind two of the mainstay platforms of modern social networks, is gradually moving away from the NFT landscape when it comes to its social media. Through a thread on Twitter, the managers of the area have communicated that Meta will end its tests dedicated to the minting of NFT on both platforms.

Their main focus, at the moment, would seem to be towards the protection of Instagram creators and users, including business accounts. More to the point, they said their efforts focus more on the Reels realm.

CEO Mark Zuckerberg has defined 2023 as "the year of efficiency", which is why the company's focus seems to be changing at the moment.