Now Facebook Considers Jumping Into Highly Popular NFT Space

August 25, 2021 7:19 AM | 1 min read | Make a Comment

Bloomberg reports that Facebook Inc FB plans its nonfungible tokens foray to tap their growing popularity. David Marcus, who leads Facebook's Novi digital wallet development, intends to integrate NFT into the wallet.
Facebook is waiting to launch the wallet with Facebook's digital currency, Diem, which was co-developed by Marcus and met regulatory hurdles.
The combination is likely to reduce the cost and time taken for money transfer.
Visa Inc. V recently acquired blockchain collectible NFT CryptoPunk 7610.
The online NFT auction house OpenSea recently exceeded $1 billion in monthly trading volume.
Price Action: FB shares traded higher by 0.04% at $365.65 in the premarket session on the last check Wednesday.