According to Bloomberg News, Facebook is considering the development of NFT-related products and features. NFT is a digital asset that has taken off with the rise of blockchain technology. Facebook executive David Marcus said in an interview with Bloomberg today: "We are definitely studying multiple ways to participate in this field because we think we are in a very advantageous position."
Marcus leads Facebook Financial, an internal team that develops the company's Novi digital wallet. He said that the wallet can be used to store NFT: "When you have an excellent crypto wallet like Novi, you must also consider how to help consumers support NFT."
He did not specify in more detail what kind of NFT-related products Facebook might develop.
Marcus said that Facebook’s digital wallet is “ready now,” but the company has been waiting to launch with Diem, a digital currency formerly known as Libra, which Marcus co-founded within Facebook in 2019.
Marcus said that Facebook would consider launching Novi Wallet "as a last resort" without Diem, but he believes that both are necessary to change the way people pay. The social media giant hopes that people can use Facebook's wallet to transfer Diem, which can reduce expensive fees and shorten the time required for cross-border remittances.
Marcus said that without more innovation in payment technology, it will be difficult for Western countries like the United States to keep up with China to adapt to a world where digital payments dominate.