Cyberspace Facebook to assist NFT

29.10.2021

Facebook made a statement on Thursday that the organization's Metavers will be supporting NFT tokens as a potential growth to the Ethereum protocol, where a virtual collecting format has been developed.

“This will simplify the implementation of limited edition virtual objects, such as NFT, their reflection in their own virtual spaces. It will also make secure speculative trading easier for every next person,” said Vishal Shah, head of Facebook Metavers Products.

The flow of news is observed as Facebook is introduced into the interactive world. The most powerful social network already owns digital space set creator Oculus and recently signaled a big recruiting momentum for its VR department.

“Our goal is to offer the maximum number of participants the chance to create a business in the digital space,” said Shah.

The development of monetization may be in line with the company's Novi e-wallet, which met with resistance from lawmakers after an experimental start in the early days of this month. Diem, a similar stablecoin of the program, is still not used. On Thursday, David Marcus, Head of Payments and Money Services at Facebook, posted on Twitter that, with the brand name change, he is unifying all of his payment and money services divisions and products, including Facebook Pay, under. Novi brand.

Facebook changed its name to Meta, all the more hinting at the organization's inclination to create its own version of cyberspace. What distinguishing features it will stand out from public virtual spaces such as Decentraland and Cryptovoxels is still unknown. Facebook (NASDAQ:FB) shares are up 3.5% today, most of which came at the start of the event at 13:00. ET. Starting from the first of December, the company's securities are planned to be sold under the code "MVRS", thereby demonstrating its interest in cyberspace.