Facebook Still Wants to Launch Digital Currency Despite Reports It Killed Zuck Bucks
in the 2000s, dollars and coins created by libertarians who tried to make a currency backed by gold and silver. But creating your own currency is no longer seen as an inherently fraudulent activity thanks to the mainstream popularity of bitcoin and the web3 wave. Facebook obviously wants to capitalize on that in every way possible, especially since the so-called metaverse is supposed to be the company’s future.
Zuck’s plans for NFTs, first announced in March, are apparently still happening, with Instagram possibly introducing the feature in May, according to the Times. What does that mean in practice? We still don’t know. Non-fungible tokens are little more than a receipt to a hyperlink, despite the popular misconception that they’re something akin to digital trading cards.But all of that confusion could be the key to Facebook’s potential success with web3.
Stephane Kasriel, the head of Meta’s finance division, reportedly wrote a memo in January, cited by the, that makes it clear the world’s biggest social media company wants to figure out a way to capitalize.“We’re making changes to our product strategy and road map . . . so we can prioritize on building for the metaverse and on what payments and financial services will look like in this digital world,” Kasriel wrote, according to theZuck is clearly intent on making his own money.
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