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Facebook says to have its crypto wallet ready: now exploring getting involved in the NFT world

Facebook’s history with cryptocurrencies seems to be coming to fruition. Since they announced Libra (now Diem) together with a consortium of tech companies, they have also been developing their own wallet. Novi, the purse, they say it’s ready now, but they probably won’t release it until Diem hits the market as well.


David Marcus, head of the Facebook Financial department at the company, recently gave an interview to Bloomberg. In it he explains that Facebook’s Novi digital wallet is ready to launch to the market. However, they don’t want to release it until Diem (the cryptocurrency they want to use) is ready as well.

Diem has been through a lot (really a lot) of trouble coming to the fore. It is expected that you will sometime this year or early next. Will do it as a stablecoin, so its value will be the same as the fiat currency of each country where it operates.

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Diem now operates independently of Facebook, although the social network has remained one of the main partners from the beginning. Facebook therefore has no influence on when and how Diem will launch. Of course, they say that “as a last resort” they are considering launching their Novi sin Diem purse.

Libra, a year later: from revolutionary Facebook cryptocurrency to being overshadowed by WhatsApp payments

NFTs also on Facebook

The buzzword in the world of crypto it is “NFT”. Non-transferable digital assets have burst into 2021 stronger than ever, and Facebook wants to take advantage of the wave too. According to David Marcus, Facebook is looking at “ways to get involved in the space because we think we’re in a really good position to do it.”

What are NFTs, the digital assets that are transforming the collection of art and digital goods

NFT digital assets are ultimately crypto addresses such as cryptocurrenciesTherefore, where it makes the most sense to store them is in a crypto wallet. “When you have a good crypto wallet, like Novi, you also have to think about how to help consumers who use NFTs,” explained David Marcus. At the moment, however, they have not given more details as a result.

Vía | Bloomberg
More information | David marcus