Meta Platforms Considers Virtual Coins.

Possible Alignment with NFT Launch

A possible introduction of digital currencies across Meta's apps may align with the company's foray into non-fungible token (NFTs),

Which are reportedly slated for a mid-May pilot launch, followed by a testing phase of features that would allow users to own and mint them.

Other internal documents sighted by the Financial Times revealed that Meta is considering monetizing NFTs via fees and/or ads.

In January, rival social media company Twitter, Inc. (TWTR) introduced NFTs to its platform.

Although the microblogging site doesn't monetize NFTs directly, it currently only allows its $2.99-per-month Twitter Blue users to display NFTs as profile pictures.

Initiative Fits Meta's Expansion Into the Metaverse

Meta remained tight-lipped Wednesday when asked about the report. "We have no updates to share today," a company spokesperson told Reuters.

However, in January, Meta's finance division head Stephane Kasriel wrote in a company memo: 

We're making changes to our product strategy and roadmap so we can prioritize on building for the metaverse and on what payments and financial services will look like in this digital world.


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