Facebook now finalizes the development of its exclusive cryptocurrency wallet, Novi, the social media giant could soon be supporting NFTs.
Head of Facebook Financial and co-creator of Facebook David Marcus initiated cryptocurrency Diem, said that the firm is “definitely looking” at possible ways to get involved in the NFT industry.
Facebook is considering multiple options to introduce NFT features, as it finds itself in a “really good position to do so,” Marcus said in a Bloomberg Television interview. “When you have a good crypto wallet like Novi will be, you also have to think about how to help consumers support NFTs,” he added.
Marcus stated that the Novi crypto wallet is now “ready to launch” after a couple of years of development, but Facebook has decided to put its launch on hold until the firm gets approval from regulators to move forward with Diem. Facebook began work on the digital currency two years ago, initially under the name Libra. The social media giant would still consider launching Novi without Diem “as a last resort,” Marcus said, but he believes that both are necessary for Diem to be a success.
