Meta pulls the plug on its crypto payments wallet amid bitcoin crash
— Nonfungible tokens, Plug, Meta may, Support, Three years ago, Major opportunity, Crypto efforts, Market commentators, Use novi, Wind — 1 min read
Mark Zuckerberg's Meta has pulled the plug on its Novi digital wallet. It launched a'small pilot' of the service in October last year. Users will no longer be able to add money to their accounts from 21 July. The closure comes amid a harsh crypto downturn, in which leading cryptocurrencies have crashed. Mark Zuckerberg has talked down generating much revenue from the project for the foreseeable future. But the tech behemoth is doubling down on its support for nonfungible tokens on its sites. Facebook will soon launch NFTs on its site with a 'digital collectibles' tab on creators' timelines to show their work. The company has invested $10billion into the project, but said it could be seven to 10 years before the investments produce any net revenue. Source