Friday, 24 March, 2023

Instagram drops plans for NFT marketplace following Facebook's rebrand to Meta

<p>Instagram has abandoned plans for an NFT marketplace, following Facebook&#39;s rebrand to Meta. The move comes amid growing regulatory scrutiny of digital collectibles, including concerns around their environmental impact and potential for fraud. Instagram had been exploring the use of NFTs to enable creators to sell and authenticate their digital artwork on the platform.&nbsp;However, the decision to shelve the project reflects a broader shift away from NFTs.</p>