{"id":483767,"date":"2023-03-14T11:32:47","date_gmt":"2023-03-14T09:32:47","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=483767"},"modified":"2023-03-14T11:38:13","modified_gmt":"2023-03-14T09:38:13","slug":"facebook-and-instagram-dropping-nft-support","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/internet\/483767-facebook-and-instagram-dropping-nft-support.html","title":{"rendered":"Facebook and Instagram dropping NFT support"},"content":{"rendered":"

Meta Platforms is cutting non-fungible token (NFT) support on Facebook and Instagram, the company’s commerce and fintech lead Stephane Kasriel said<\/a><\/strong> on Twitter.<\/p>\n

A company spokesperson told The Verge<\/a><\/strong> they would end tests of minting and selling NFTs on Instagram and the ability to share NFTs on Facebook and Instagram over the coming weeks.<\/p>\n

“Across the company, we’re looking closely at what we prioritise to increase our focus,” Kasriel said.<\/p>\n

“We’re winding down digital collectables (NFTs) for now to focus on other ways to support creators, people, and businesses.”<\/p>\n

However, Meta will continue prioritising helping creators and businesses connect with their fans and monetise.<\/p>\n

To do this, Kasriel said the company would “focus on areas where we can make impact at scale”. This includes aspects like messaging and monetisation on Reels and improving Meta Pay.<\/p>\n

“We’re streamlining payments w\/ Meta Pay, making checkout & payouts easier, and investing in messaging payments across Meta,” Kasriel added.<\/p>\n

In March 2022, Meta CEO Mark Zuckerberg confirmed that the company was adding NFT support to Instagram, including the ability to “mint” the tokens.<\/p>\n

Facebook and Instagram received NFT support in August 2022, meaning users could link their digital wallets to post collectables on the platforms<\/a><\/strong>.<\/p>\n

\n

Now read: Facebook and TikTok owners ignored or undermined warnings about social media addiction<\/a><\/h2>\n","protected":false},"excerpt":{"rendered":"

Meta Platforms is “winding down” NFT support on Instagram and Facebook to focus on aspects like messaging and monetisation in Reels and improving Meta Pay.<\/p>\n","protected":false},"author":341076,"featured_media":438228,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[18],"tags":[161,10424,1767,73842,69137],"class_list":["post-483767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-facebook","tag-instagram","tag-mark-zuckerberg","tag-meta-platforms","tag-non-fungible-tokens-nft"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/483767"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341076"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=483767"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/483767\/revisions"}],"predecessor-version":[{"id":483815,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/483767\/revisions\/483815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/438228"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=483767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=483767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=483767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}