Another Change in the Plan

One of the best things about a human life is how we are able to scale things up in such a consistent manner. This allows us to achieve some significant milestones along the way, and the same is substantiated by all the milestones we have clocked so far. However, if we are being honest, none of them represent the dynamic better than a particular creation called technology. Technology stands out from the pack for reasons that are much bigger than its unique skill-set. To contextualize the claim, we look at the manner in which it used those skills for impacting our entire spectrum. Now, while sheer reach of it will do a lot in turning us into a tech-driven society, the revolution won’t stop even after get to there. It will continue thriving, but having said that, not all the technological forays are going to result in a home run. Unfortunately enough, one of Meta’s most ambitious initiatives ended up falling in this very category.

After shelving the idea of launching its own cryptocurrency, Meta is now shutting down its cryptocurrency wallet, Novi, as well. Going by the official announcement, the users will have until 1^st September 2022 to withdraw their funds. While the withdrawal deadline is September, you won’t be able to add funds to your Novi wallet from 21^st July onwards. The decision was received with a bit of surprise, considering Meta launched a pilot program for the wallet less than a year ago. Nevertheless, this will not spell Meta’s end in the digital assets sphere. In fact, the social giant has already set the wheels in motion to make a run for the raging NFT trend, and if we are to put our stock in the company’s stance, we should only expect more to come moving forward.

“We are already leveraging the years spent on building capabilities for Meta overall on blockchain and introducing new products, such as digital collectibles,” said a company spokesperson. “You can expect to see more from us in the web3 space because we are very optimistic about the value these technologies can bring to people and businesses in the metaverse.”

Moving away from cryptocurrency, Meta is reportedly working on a whole another digital wallet, which can store “digital clothing, art, videos, music, experiences, virtual events, and more.” In case that’s not big enough of a bid to diversify its operations, the company is even understood to have a digital currency called “Zuck Bucks” in the works. Interestingly, this one won’t have anything to do with the blockchain technology.