BTC-Newswire

Meta Sunsets ‘Digital Collectibles’ as Platforms Cool on NFT Adoption

Press Releases Crypto News BeInCrypto Meta Sunsets ‘Digital Collectibles’ as Platforms Cool on NFT Adoption

As of April 11, Meta will discontinue its NFT-sharing feature ‘Digital Collectibles.’ Marking the end of a project that allowed users to display their NFTs on Instagram and Facebook

Initially launched in May 2022, the feature was conceived as a way to better integrate the platforms into the digital collectibles ecosystem. Users could connect a crypto wallet and share the compatible image- or video-based NFTs as a special type of post. These include a slight shimmer effect and automatically tag both the owner and the creator of each digital item.

Existing Digital Collectible posts will be converted to ordinary Facebook and Instagram posts and Meta will no longer connect to third-party wallets.

It may come as a surprise to see Meta winding down the program less than a year after its launch. As recently as November, the Big Tech firm rolled out integration for Solana wallets. Suggesting a continued commitment to NFT compatibility. But that initial enthusiasm seems to have died.

What’s more, Meta isn’t the only company that’s dialed back its support for NFT integrations.

Other Platforms Also Scale Back

Following a wave of hype that characterized the space previously, in July 2022, Microsoft-owned Mojang Studios announced that it would not support NFC compatibility on Minecraft. In a single move, the studio essentially de-platformed projects like NFC Worlds. Which had been building its own metaverse by tokenizing virtual plots of land on custom Minecraft servers.

Alongside platforms abandoning third-party support, many companies that initially jumped on the NFT bandwagon have since curtailed their ambitions in the

Go to Source to See Full Article
Author: Ryan James

Did you like this?
Tip BTC Newswire with Cryptocurrency