Facebook Considering NFT Support in Novi Digital Wallet

Facebook is in a good position to explore supporting NFTs through its new digital wallet, according to the company's head of financial services.

AccessTimeIconAug 25, 2021 at 10:21 a.m. UTC
Updated Sep 14, 2021 at 1:44 p.m. UTC
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Facebook is "definitely thinking about" using its Novi digital wallet to support non-fungible tokens (NFTs), said David Marcus, the company's head of financial services, in an interview with Bloomberg.

  • Facebook is in a good position to explore supporting NFTs through its new digital wallet, though it is too early to talk about specific plans, Marcus said in an interview with Bloomberg on Tuesday.
  • "When you have a good crypto wallet like Novi will be, you also have to think about how to help consumers support NFTs," he said, adding that Facebook "is definitely thinking about this."
  • Asked about concerns over the social media giant's moves into financial services, Marcus restated his position, aired in a recent blog post, that Facebook deserves "a fair shot" at earning people's trust given the company's history of bringing competition to areas such as communication and reducing costs of text messages and international calls.
  • "I completely understand the scrutiny and the trust conversations, but I'm not advocating for blind trust. I'm advocating for a shot to earn people's trust over a long period of time," he said.

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