Instagram NFTs will be disabled on April 11th

After announcing that they would be discontinuing their NFT-related projects last month, Meta is now informing Instagram users that their current, active in-app NFTs will be disabled as of April 11.

As you can see in this screenshot, shared by Ahmed GhanemInstagram users are now being shown a notification to let them know about the change, which will be one of the latest steps in Meta moving away from NFTs, which are clearly ngmi.

Instagram was at one point seen as the logical home for Meta’s NFT push, with the company looking to tap into the NFT boom as a means of showcasing digital ownership, which it sees as a key element of its evolving metaverse- push.

Meta first launched NFTs on Instagram in May last year with select creators able to access a new posting option that enabled them to share “digital collectibles” within the app, with data linked to the relevant blockchain, via various providers.

Although already at that stage Meta latched onto the tail end of the NFT counter-ignition, and since then NFT sales have continued to crater, affected by a lack of interest, broader disruptions in the crypto markets and the economic downturn.

Obviously, there wasn’t actually much value in JPEGs, long term – although there is still a very dedicated, engaged NFT community still exchanging and interacting with NFTs, looking for the next potential use case for the process.

And there may still be one. As mentioned, as the metaverse becomes a thing (if it does), it will open up all new use cases for digital ownership, and digital objects, including artwork, may still become a more important consideration in this next shift.

But the metaverse, as its own concept, has fallen out of favor for now as well – although Meta is still developing its next-level system, and it could still end up being a transformative shift, sometime in the future.

In this regard, NFTs effectively proved the use case for digital ownership, so maybe, really, NFT enthusiasts are just too far ahead of the curve right now, and one day they’ll tell stories of how they were laughed at for pushing. this type of project which has since become common.

May be. Anyway, right now NFTs are not an investment, not a worthwhile or viable experiment for the most part, and probably not worth your time.

And soon they will disappear completely from IG and Meta as it focuses on other things.