Facebook Exploring NFT Space As It Thinks Bitcoin Is too Volatile

According to Business Insider, Facebook says it is looking at building NFT-related features on Diem, a simple rebranding of Libra, a centralized, proof-of-stake (PoS) crypto project initiated by Facebook on a quest to solve the world’s money problems.

During an interview with Bloomberg on Tuesday, David Marcus, co-creator and a board member of Diem said,

“We think the world needs a better payment system.”

Also, he added that after all these years, Facebook is nearly ready to deliver the solution. In addition, he noted, “We’re in a really good position to do so.” This comes as the project is still too early in development for Marcus to detail Facebook’s NFT product plans. But he confirmed that company’s “developers are on the case.”

Moreover, he said that they are thinking about this as it’s really an area that is worth exploring. And one where they can have a positive impact on both creators and consumers.