Meta Platforms Winds Down NFT Support: AI Impact on Web3Meta
• Meta Platforms announced it was ending its support for NFTs, which could hinder Web3 creators.
• AI is making its way into Web3, and the rules around intellectual property rights of works created with the help of AI are being discussed.
• Artists are considering utilizing AI in their work, and Yuga Labs new CEO has made his first public appearance since assuming the position.
Meta Platforms’ NFTease
Meta Platforms, parent company behind Facebook and Instagram, recently announced that it will be winding down its test program for Non-Fungible Tokens (NFT) after less than a year from its initial launch. This could mean a setback for Web3 creators who use social media to promote their art and interact with their community. Stephane Kasriel, Meta’s head of commerce and financial services said that they learned a lot from this program but will continue to build products “to support creators, people and businesses on our apps today and in the metaverse”.
AI’s Impact on Web3
Artificial Intelligence (AI) is making its way into Web3 as well as discussions on the rules around intellectual property (IP) rights of works created with the help of AI. NFT artists are also considering utilizing AI in their work.
Yuga Labs New CEO
Yuga Labs new CEO Daniel Alegre has made his first public appearance since assuming the position. He spoke about his vision for Yuga Labs going forward and how he plans to make a difference within the industry.
The Airdrop Newsletter
The Airdrop newsletter is sent out every Friday discussing the biggest stories across Web3 such as NFTs, DAOs and emerging technologies like VR/AR. It’s available to sign up for those who would like to stay informed on what’s happening in this space.
Conclusion
Non-fungible tokens have faced some roadblocks in terms of promotion through social media platforms but advancements continue to be made as AI makes its way into Web3 while also sparking conversations surrounding IP rights related to works created with AI assistance. In addition Yuga Labs has appointed a new CEO who spoke publicly about his plans going forward within the industry while The Airdrop newsletter is available to sign up for those interested in staying informed on all things related to Web 3 technology.