NFTs have been one of those “flare” type technological fads, which turn on quickly and very flashy, but in less than a heartbeat, it turns off completely (and you turn another one on again). Something that some technology companies have already realized, such as Meta, the parent company of Facebook and Instagram, which has decided to get off the bandwagon of this technology.
“For now, we are putting an end to digital collectibles (NFT) to focus on other ways to support creators, individuals and businesses. Many thanks to the partners who joined us on this journey and are doing great work in a dynamic space,” Stephane Kasriel, Meta’s director of commerce and financial technology, stated on his Twitter account. “We are proud of the relationships we have established. And we look forward to supporting the many NFT creators who continue to use Instagram and Facebook to amplify their work.”