Many use Instagram and Facebook but never saw or was presented with the option to do anything related to NFTs at all. Many do not see this as a failure of interest. In fact, it’s a failure of marketing to get the word out. NFTs are part of lives of many and many would have plastered their NFT work all over the social media.
That said, arguably this was a good time to test it while limiting damage to their reputation. However this kind of implementation was destined to fail. The way it will be a success is when it happens naturally, like when Instagram was first conceived.
The data they caught during this process was invaluable and will allow them to implement things in a better way in the future. As a business it’s much better to have an understanding of what doesn’t work before setting off into the unknown.
Our take on Meta’s removal of NFTs – Despite Meta’s attempt to jump on the NFT trend, as seen by their now-removed NFT features on Instagram and Facebook, NFTs are still thriving in the digital world.
The OpenSea trading activity and Twitter discussions are a testament to that.
So, do not be surprised if Meta releases their own NFT marketplace, which was rumored to happen last year with a 50% cut of NFT sales which blew everyone’s mind and it didn’t happen.
