Breaking: Meta’s NFT Plans In Full Swing Despite End To Crypto Program

After announcing closure of its Novi project, Meta clarified that its other crypto projects are going as per plans. The company has been working on the non-fungible tokens (NFTs) for quite some time now.

Novi To End From September 1

Just a few days ago, the company announced its Novi project, which allows remittances and international money transfers, will soon be shut. The company said the project would be non-operational starting September 1. The team alerted Novi users to get the remaining balance in their accounts.

“The Novi pilot is ending soon. Novi will no longer be available for use after September 1. Before Novi goes away, we’ve made it easy for you to get your remaining balance and download your Novi information.”

No Change In Meta NFT Project

Meanwhile, the big tech giant is leaving no stone unturned with regard to its NFT project. According to a Financial Times report, Meta’s plans around NFTs have not changed in any way. Stephane Kasriel, the company’s head of fintech, said millions of Meta users would be able to collect NFTs.

“The opportunity Meta sees is for the hundreds of millions or billions of people that are using our apps today. They will be able to collect digital collectibles. For the millions of creators out there, that could potentially create virtual and digital goods to be able to sell them through our platforms.”

Kasriel said the crypto industry went through a hype cycle in recent times. The hype had initial enthusiasm crashing in a bear market, he added. In May this year, a senior Meta executive heading payments and crypto left the company to explore opportunities in crypto industry.

David Marcus, the former chief of payments and crypto at Meta, had then announced his entrepreneurial foray into the crypto ecosystem. He announced the launch of a startup Lightspark to explore, build and extend the capabilities and utility of Bitcoin.