Meta's Head of Business and Financial Technology: Gradually reducing support for NFTs, the priority is to enable monetization for creators

2023-03-14 09:13:32

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ChainCatcher news, Meta's Head of Business and Financial Technology, Stephane Kasriel, tweeted that Meta is now gradually reducing its investment in the NFT business to focus on supporting creators, individuals, and businesses in other ways. Additionally, he stated that Meta will continue to support NFT creators who use Instagram and Facebook to work better, simplifying payments through Meta Pay to make checkout and withdrawals easier, and investing in Meta's messaging payment and monetization services.

Stephane Kasriel specifically emphasized that "creating opportunities for creators and businesses to connect with fans and profit from it remains a top priority."

It is reported that Meta had previously stated that NFTs could help expand the creator economy, and Instagram announced a Polygon-based NFT marketplace plan last November. (source link)

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Meta NFT creator economy

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