Meta scraps NFTs on Instagram and Facebook: Nifty Newsletter, March 8–14
Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights.
In this week’s newsletter, read about whyMeta decided to “wind down” its nonfungible token (NFT) tools on Instagram and Facebook, and check out the metaverse greenhouse full of dynamic, “breedable” NFT flowers. Find out more about Binance NFT’s addition of Polygon network support to its marketplace and, last but not least, Nifty News highlights the new artificial intelligence (AI) tools that can bring security and transparency to the NFT market, and why German regulators are considering a case-by-case approach to NFTs.
Tech giant and Facebook parent company, Meta, said it’s scrapping its NFT features across its social media platforms, Facebook and Instagram. This comes only 10 months after the integrations first launched.
Stephane Kasriel, the head of commerce and financial technologies at Meta, revealed the news in a tweet on March 13. He said the company is “winding down” its NFT support and will “focus on other ways to support creators, people, and businesses” while prioritizing monetization and connecting with fans.
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On March 8, the Heterosis project introduced collectible, breedable and dynamic NFTs of digital flowers. After the initial mint of the NFT flower, users can look into the greater catalog of flowers available and “breed” flowers to create a hybrid species.
According to the project’s announcement, when a new flower trait is discovered, it spreads across the entire population, “just like the diversification in nature works.” All
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