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.

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“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
Her Mind Had Gone Out For A Stroll & Fallen Down The Rabbit Hole
Her Mind Had Gone Out For A Stroll & Fallen Down The Rabbit Hole' is the first programmable piece of art by Kitty Bast. The owner constructs, modifies & tattoos their very own Doll Lady... Is she falling down a rabbit hole, lost in a sea of cats or gazing into the unknown void? Do you like Pink Ladies or Lilac Ladies? Or do you pick the Wild Card? There's always a wild side to an innocent doll face. Is she obsessed with crypto ponies or crypto kitties? Or does she have an insatiable desire for Mr. Honey Badger. Come inside and have a nice cup of NFTea with the bunnies. Is your lady chained to the blockhain? Does your lady shed Bitcoin tears or ETH tears? Does your doll face don a Rotten Heart? Do you HODL to the Moon to meet the ETH Kitty? Do you have an obsession for cyborgs or Puddin'? Would you like a slice of Death by Pink? Is The Cat's Eye green or golden? Little trolls with mini daggers not included. The cheshire cat might trade you his ears for your goggles. Modifications of the Host. How long is forever? Sometimes, just one second.
The only Daffodil Selkirk!
Ugh! I'm The only Daffodil Selkirk!. All you need to know about me is I hate steak with a passion. My secret indulgence is salad. I think you'll love me beclaws I have cattitude.
Ethboy
Young Vitalik takes on the role of Picasso’s son Paulo dressed as Harlequin in this artwork but the octahedron Ethereum logo replaces the chequered pattern of the original jester outfit. Leaning against a large chair, the boy genius fiddles with his fingers in a somewhat nervous manner; nevertheless, he stares directly at the viewer with what appears to be a confident, ‘Mona Lisa-like’ smile. Vitalik has no idea what the future has in store for him, but he’s prepared to face any obstacle ahead as he begins life's adventure.
Mars House
Mars House is the first NFT digital house in the world. Upon purchase of Mars House NFT, 3D files will be sent to the new owner by Krista Kim Studio Inc. for file upload to the owner’s Metaverse. Technical support for Mars House integration on Metaverse is provided. (Architectural Digest, March 14, 2021) “Kim ventured into NFTs while exploring meditative design during quarantine; her hope was to use the influx of digital life as an opportunity to promote wellbeing. Comprised entirely of light, the visual effects of her crypto-home are meant to omit a zen, healing atmosphere. The artist also partnered with musician Jeff Schroeder of The Smashing Pumpkins to create a calming musical accompaniment. So what makes the file a compelling purchase? Beyond the promise of buying into the lucrative NFT market, the home and all of the furniture in it can be built in real life by glass furniture-makers in Italy, as well as through MicroLED screen technology. Kim also has a strong visions the art being projected, as well. “Everyone should install an LED wall in their house for NFT art.” says the artist. “ This is the future, and Mars House demonstrates the beauty of that possibility.” The owner is in agreement to the following terms and conditions upon purchase of Mars House (hereby referred to as Mars House NFT): The collector agrees to own one copy of Mars House NFT on a single Metaverse platform. The collector is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio Inc. will provide technical support to upload and integrate Mars House NFT on a Metaverse platform. If/when Mars House is resold, the collector is required to delete all Mars House NFT 3D file(s) from his/her Metaverse, and provide verification of deletion to Krista Kim Studio Inc. before new 3D files are transferred to the new owner by the artist. The new owner is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio will send Mars House NFT 3D files directly to the new owner and provide support for Metaverse integration. This verified ownership transfer system will be appointed to Krista Kim Studio Inc. trusteeship, after 40 years of the date of the sale. Krista Kim Studio Inc. retains ownership of Mars House NFT copyright. All rights reserved. All reproductions of Mars House (NFT) in both digital and physical formats, are restricted. Mars House NFT physical furniture pieces, made of tempered printed glass in Italy, may be commissioned by the collector as NFT physical pieces.
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By OthersideDeployer