Observed Signal · Mar 14, 2023 · Policy Update · Source: OnlineMarketing.de · Impact: 4/5 · Sentiment: Negative
Meta ends NFT support on Instagram and Facebook
Meta has announced it is winding down digital collectibles, i.e., NFTs, on Instagram and Facebook to reallocate resources toward creator monetization via Reels and Meta Pay. The move follows Meta’s earlier NFT push and comes amid broader efforts to trim projects, including the Novi crypto wallet and Reality Labs initiatives. Stephane Kasriel, Meta’s Head of Commerce and Financial Technologies, stated on social media that the company is winding down NFTs for now to focus on other ways to support creators, people, and businesses. The article notes that NFTs were rolled out to creators last year and were marketed with wallet integrations and cross‑platform sharing; however, Meta did not specify a timeline to reintroduce digital collectibles. In parallel, Meta is expanding advertising opportunities for Reels and testing new monetization tools such as Add Yours on Instagram posts, while continuing to pause other incentive programs.
Major Platform policy update: winding down NFT support; impacts NFT ecosystem and creator monetization.
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Key Takeaways & Evidence Grounding
- Meta announced the winding down of digital collectibles (NFTs) on Instagram and Facebook.
- Stephane Kasriel said NFTs are being wound down to focus on Reels monetization and Meta Pay.
- NFTs were introduced on Instagram in May 2022 with wallet integration capabilities.
- Meta shut down the Novi crypto wallet and trimmed Reality Labs projects.
- Meta plans to expand Reels advertising and test Add Yours feature on Instagram posts.
Connected Companies & Entities
1 Entity mappedRelated Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Google launches unified agentic AI for Gemini
At a Google Cloud event on Thursday, Google announced it is bringing agentic AI to its Gemini assistant, launching a unified agent that can autonomously plan and execute tasks on behalf of users. Aimed initially at businesses, the agent can connect to internal systems and external tools, use custom skills, and even choose from third-party models like Anthropic's Claude. It will have its own Workspace account with an email address, and will write its own audit trail. Early testers include On, Shopify, and PayPal. Gemini has over 1 billion monthly active users, and nearly 90% of Fortune 100 companies use Gemini Enterprise.
Grok Bot Searches X, Integrates Rival AI Models
SpaceXAI has enhanced its AI agent Grok Bot with the ability to continuously search and analyze the entire X platform. Users can now deploy the agent for 24/7 social listening, brand monitoring, and trend analysis, similar to Google's Information Agents. Grok Bot will also integrate other AI models from competitors, such as Claude Opus 5.5, Midjourney, and Suno, depending on the task. This move signals a shift towards multi-model AI agents and expands the capabilities of AI-driven social media analytics.
Instagram Edits App Now Supports Carousel Creation
Instagram's Edits app now allows creators to create Carousel posts directly within the app, according to an announcement by Instagram's Creators account via Instagram and Threads. The feature is available immediately for iOS users, with an Android version expected soon. In a broadcast channel, Instagram head Adam Mosseri confirmed that users can mix photos and videos on any slide, connect images across slides, and use the same stickers, text effects, and cutouts used in video editing. This functionality aims to streamline content creation and boost engagement, as Carousels remain a popular format on the platform. Additionally, the Edits AI Assistant, which provides video ideas based on account metrics, is currently available only in the US. Meta continues to enhance its creator tools to support social media marketing efforts.
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