15/03/2023 Meta gives up on NFTs for Facebook and Instagram

Image of Meta’s logo with a red and blue background.

Illustration by Nick Barclay / The Vergenone

Meta is “winding down” its work with NFTs on Facebook and Instagram, Meta commerce and fintech lead Stephane Kasriel said in a Twitter thread on Monday. The decision means Meta will end its tests ofminting and selling NFTs on Instagramas well as the ability toshare NFTs on Instagram and Facebookin the coming weeks, Meta spokesperson Joshua Gunter confirmed in an email toThe Verge.

“Across the company, we’re looking closely at what we prioritize to increase our focus,”Kasriel said. “We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses.” Instead, the company isfocusing on“areas where we can make impact at scale,” like messaging and monetization on Reels andon improving Meta Pay.

The NFT integrations seem to be one casualty of CEO Mark Zuckerberg’s drive to make 2023 the “year of efficiency,” along with theReels Playbonus program. But their end also follows the shutdowns of theMeta-backed cryptocurrency DiemandMeta’s Novi digital walletlast year.

Still, even as Meta exits NFTs, other companies are rushing into a market that collapsed in 2022 and shed billions in value after stratospheric levels of hype in early 2021. Reddit continues to promote its“digital collectible” avatars that are NFTs, Starbucks recentlysold out a selection of 2,000 $100 NFTsin its Odyssey customer loyalty program, andSesame Streetjust announced an NFT collaboration.

Arts

https://www.theverge.com/2023/3/13/23638572/instagram-nft-meta-facebook-quits-digital-collectibles

Interesting NFTs
ZEB
Aloha! I'm ZEB. I'm a Spin Instructor by day, and I like tricking babies by night. I once made a goose drink. I hope we can be pawmates.
2.0
2.0
Bored Ape Yacht Club #1734
The Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs— unique digital collectibles living on the Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card, and grants access to members-only benefits, the first of which is access to THE BATHROOM, a collaborative graffiti board. Future areas and perks can be unlocked by the community through roadmap activation.
Banksta
Pump, dump and bump Banksta to death. Demon or dead normal? Print fiat at will. What more do you want?
Right Place & Right Time (bitcoin hourly price offset)
Each day, a new composition for the Master is generated autonomously using a data feed of Bitcoin's last 24 hours of price action. Each hour's price programmatically controls rotation, scale, and position of a correlating layer. Astute viewers will surmise the day's price volatility simply by examining the artwork. While the daily image generation is the result of autonomous API calls, utilizing an algorithm the artist wrote, the artist has chosen to retain a control token. This token allows him to fine-tune variables associated with his algorithm, in addition to addressing aesthetic concerns within the life-cycle of the artwork. Layer state, alpha, hue, saturation, and brightness are elements the artist has retained control of in order that this artwork remain a living work-in-progress. An earlier iteration of this artwork was featured as a nightly projection mapping video on the face of the Daniels Fisher Clocktower, as part of ETH Denver 2020. Access to this and additional exclusive content awaits the master token owner at the artist's NFT Portal: https://collect.mattkane.com/minted-works/right-place-right-time-bitcoin-hourly-price-offset/