FIRST ON PRO: Instagram NFT initiative's swift death mints mourners, mehs by RT_Watson
Meta said its NFT program will end the day before announcing 10,000 employees will be laid off.
Krugman’s frustration may resonate with many independent artists. The photographer said he has been making money online with his work for more than a decade. And all the while he has been slowly building an audience on Instagram where he has nearly 320,000 followers. Allen, who according to her Twitter profile has been active in crypto since 2018, said she was surprised to see the program come to an end, but not shocked. “It was convenient to mint on the app and put a digital collectible up for sale,” she said.Meta’s decision may be tied to its cost-cutting efforts during a transformative period at the company that Zuckerberg is calling the “year of efficiency.
“It is proof that NFTs on Instagram and Facebook have failed for the time being,” wrote @Waleswoosh, a self-proclaimed web3 advocate with nearly 32,000 followers on Twitter who often posts about NFTs. “If the tool had been really successful and popular, it would hardly have been discontinued.”@NFT_GOD assured their roughly 106,000 Twitter followers Meta’s folding up of the “digital collectibles” scheme was inconsequential.
was disappointed by Meta’s sudden move to end the initiative, according to a person familiar with the matter.
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Meta Winding Down Support for NFTs on Facebook, Instagram – Bitcoin NewsU.S. tech giant Meta is giving up on operations with non-fungible tokens (NFTs) amid ongoing turbulence in the crypto space.
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