Meta’s head of commerce and financial technologies Stephane Kasriel says that the company will sunset its NFT and digital collectables features on Instagram and Facebook.
By July, Meta expanded NFT support on Instagram for creators in 100 countries. Less than a year later, Meta is moving on from NFTs.
Kasriel says they are winding down digital collectables, for now, to focus on other ways to support creators, people, and businesses.
The company says it is testing ways for creators to earn ad revenue on Reels.