Meta Plans to Stop Support for NFTs on Facebook and Instagram

  • According to Stephane Kasriel, the closure will enable the business to focus on other ways to support creators.
  • Meta is also planning layoffs in the coming months.

Just over a year after revealing plans, big Tech firm Meta is now pausing plans to let users share digital collectibles on its Instagram and Facebook platforms. Stephane Kasriel, Meta’s head of commerce and financial services, declared on Twitter on Monday that the closure will allow it to focus on other ways to support creators, people, and businesses.