Novi-FT? Facebook’s NFT support may not drive crypto adoption

Novi-FT? Facebook’s NFT support may not drive crypto adoption

Nonfungible tokens (NFT) have enjoyed quick adoption across the entertainment, media and sports space as the biggest brands, companies and individuals look to gain first-mover advantage in creating their own digital collectibles.

These have come in myriad forms, and much like blockchain technology was touted to be pliable to any industry’s needs and problems, the imagination is the only limit when it comes to NFTs that are being created and traded around the world.

Social media has made people more connected than ever before, and these various platforms have played a role in the introduction and proliferation of NFTs among distinct audiences.

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However, industry-leading behemoths like Facebook and Twitter have not quite onboarded blockchain technology into the inner fabric of their underlying systems. Users can post about exciting new NFT launchings, but the end-user cannot buy or trade these items without clicking on a link taking them to whichever platform the digital collectible is based on.

Facebook, in particular, has been subject to

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