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Facebook Sets Sights On NFT & Crypto Support With New Digital Wallet
By Ell Ko, 30 Aug 2021
Image via Wachiwit / Shutterstock.com
Facebook marked its expansion into the digital realm with its partnership with Novi, a digital wallet built to hold cryptocurrencies, in 2020.
With the option to use it as an external app, or integrated into the Messenger and WhatsApp interfaces, users can easily carry out transactions with their contacts entirely online. It was set to roll out in “an initial set of countries” with plans to expand into cross-border transactions without fees.
Seemingly synonymous with holding crypto is the potential to invest into non-fungible tokens (NFTs). Although they’ve been around for a few years, only this year has the market seen explosive growth, with everyone from Campbell’s to Porsche to literal children seemingly scrambling for a piece of the pie.
And it seems that Facebook is well aware of this, evidenced in an interview Bloomberg published with David Marcus, the company's head of financial services.
”When you have a good crypto wallet like Novi will be, you also have to think about how to help consumers support NFTs,” he stated.
The social media network is in a “good position” to explore this option, he adds, although saying that it’s still early days. Perhaps it’s planning to integrate a marketplace for NFTs into its network, building on the existing one it has for physical products.
He may not have offered any other specific details, but it’s certainly enough to begin speculating with.
[via CoinDesk, cover image via Wachiwit / Shutterstock.com]
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