Meta Dead Set on NFT Plans and Future

Meta’s new head of fintech Stephane Kasriel has made it clear that NFTs and the metaverse is a core part of the company’s strategy. Kasriel was speaking to the Financial Times in his first interview in the position, and offered unequivocal remarks on Meta’s future plans.

In a Nutshell:

• Kasriel said that Meta envisions a future where hundreds of millions, even billions, of people use its services to interact, collect digital items, and make sales.
• Meta has been making a shift from its traditional social media platforms into the metaverse and NFTs, adding related features to its Facebook and Instagram platforms.
• Meta is currently testing features that would let users display their NFTs while also allowing select content creators to sell items.

What it Means:

• Meta has been making a tremendous push into NFTs and the metaverse, and has poured billions of dollars into it. While Zuckerberg and others say that it will take years for the strategy to pay off, it could result in a substantial profit if the company can actually pull it off.