In a Twitter thread, Meta (formerly Facebook) Head of Commerce
and Fintech Stephane Kasriel announced that they would be “down
digital collectibles (NFTs) for now to focus on other ways to
support creators, people, and businesses”. Meta had only launched
its support for NFTs in Facebook and Instagram partway through
last year — a bit late to the NFT craze, which had largely cooled
by that point.
Mark Zuckerberg had once talked about eventually using NFTs for
Meta’s metaverse projects, suggesting that eventually “the
clothing that your avatar is wearing in the metaverse, you know,
[could] be basically minted as an NFT and you can take it
between your different places”. It sounds like that plan may no
longer be on the table now.