Facebook Considers Building NFT Features Alongside Digital Wallet (bloomberg.com) 15
Facebook is considering building products and features related to nonfungible tokens, or NFTs, the digital assets that have taken off with the rise of blockchain technology. From a report: "We're definitely looking at the number of ways to get involved in the space because we think we're in a really good position to do so," Facebook executive David Marcus said Tuesday in an interview on Bloomberg Television. Marcus leads F2, or Facebook Financial, the internal group developing the company's Novi digital wallet. That wallet could be used to hold NFTs, he said. "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. "We're definitely thinking about this." He wasn't more specific about what kinds of NFT-related products Facebook might build.
Facebook's digital wallet is "ready now," Marcus said, but the company has been waiting to launch it until it can do so alongside Diem, the digital currency previously known as Libra, which Marcus co-founded from within Facebook in 2019. Plans are for Diem to offer a so-called stablecoin backed by the U.S. dollar, but it's unclear when the coin will be introduced. The project faced immense pushback from lawmakers and regulators when it was unveiled, and while Facebook is still a partner on the project, Diem is now run independently.
Facebook's digital wallet is "ready now," Marcus said, but the company has been waiting to launch it until it can do so alongside Diem, the digital currency previously known as Libra, which Marcus co-founded from within Facebook in 2019. Plans are for Diem to offer a so-called stablecoin backed by the U.S. dollar, but it's unclear when the coin will be introduced. The project faced immense pushback from lawmakers and regulators when it was unveiled, and while Facebook is still a partner on the project, Diem is now run independently.
Facebook only has user assets! (Score:2)
??? Facebook NFTs? Is it not entirely counter to the decentralized philosphy behind blockchain? One side violates privacy, the other sides provides the bare minimal privacy. Why?
Laundering (Score:2)
I guess Zuck has some money he needs to launder.
Re: Laundering (Score:4, Insightful)
I am pretty sure money laundering is the primary use of NFTs. Nothing else makes sense.
Re: (Score:3)
Re: (Score:2)
Less laundering, more parking. If anything, the whole NFT craze shows that there is money on the investment side that is desperately looking for worthwhile investments but without demand on the rise, there simply isn't anything you can put your money into. Real estate and precious metals are already way, way overvalued, so they're pretty desperate to find anything to park their dough in.
The D&D players of old will identify this as the "I got a million gold coins and they weigh more than I can carry, cou
Natural extension of the spam business plan! (Score:2)
The NFT idea is a remarkable scam. Not a bit surprised Zuckerberg wants to wet his beak.
But scam and spam are both four-letter words. Coincidence? I think not. (Yeah, it's a really weak segue.)
Yeah, I'm still fixated on spam and I'm surprised that so few of the fresh waves of Facebook-supported spam involve "investing" in NFTs. So here's a quick survey of the supply from the last 10 or 12 hours (on one email account): I recognize 23 out of 29 as almost surely originating on Facebook, but I'll have to check
A success in the making! (Score:2)
I am thrilled to see such forward thinking and user-requested functions! This sort of innovation will undoubtedly be filed alongside such world-changing successes as the Zune, Google Plus, Itanium, Ping, and that time Facebook changed everyone's public e-mail addresses to the "@facebook.com" address they didn't know they had!
Re: (Score:2)
Bing. It's spelled Bing. Not Ping.
Re: (Score:2)
Bing. It's spelled Bing. Not Ping.
No, it's spelled Ping [wikipedia.org].
Translation: Mo' Money! (Score:2)
More new tokens (Score:2)
New Florida Time shares and Not Fake Tickets (Score:2)
Digital wallets are great for holding your cash as a "digital currency" on their balance sheet. They might as well take your NFT (Not Fucking Tangible) assets as well. Also, while they are at it New Florida Timeshares can also be offered as well as Non Findable (Lottery) Tickets.
Tulips, anyone ? (Score:1)