The metaverse, this virtual universe under development at Facebook, will allow its users to exchange non-fungible tokens (NFTs) in complete security. To sell or buy these digital goods, they will have to go through Novi, the digital wallet designed to accompany Diem, the social network’s stablecoin.
Facebook becomes Meta and teases the arrival of NFTs in the metaverse
This Thursday, October 28, 2021, Facebook held an online conference called “Facebook Connect”. During this event, Mark Zuckerberg, CEO and founder of the social network, announced the name change of his company. From now on, the firm will be called Meta. This new name aims to reflect the ambitions of the company with the creation of the metaverse, this digital universe “fictitious, in which individuals could evolve in shared spaces in three dimensions.
This universe, presented as the future of the mobile Internet, will allow Internet users to easily exchange non-fungible tokens (NFTs), reports CoinDesk on October 28. In the wake of the “Facebook Connect” conference, Vishal Shah, head of the metaverse at Facebook, confirmed the Silicon Valley giant’s interest in certificates of authenticity on the blockchain. During his presentation, Mark Zuckerberg actually mentioned several times the idea of exchanging “digital assets” within the metaverse.
“This will make it easier for people to sell limited edition digital items like NFTs, display them in their digital spaces and even resell them to another person safely,” says Vishal Shah.
NFTs will be integrated into the Novi digital wallet
Not surprisingly, the Novi digital wallet will play an important role in the integration of NFTs within the metaverse. Developed by the Diem Association, this digital wallet was designed to accompany the deployment of Diem, Facebook’s stablecoin. A few months ago, David Marcus, the current head of the Meta Group’s financial division, had indeed announced the arrival of NFTs in the Novi application in the coming years. Shortly after the October 28 conference, the executive confirmed the importance of the Novi wallet in the development of the metaverse in a thread on his Twitter account.
“Over time, we will unify all existing and future payment and financial services experiences under the Novi brand,” David Marcus explained in a tweet posted shortly after “Facebook Connect.”
As a reminder, Meta has just launched the first test of the Novi wallet with a handful of users in the United States and Guatemala. The application allows for the exchange of Pax Dollar (USDP), a regulated stablecoin offered by Paxos, at no cost. In the near future, this wallet will be integrated with services developed by Meta, including Facebook, Messenger, WhatsApp or Instagram. It will obviously be part of the cornerstones of the future metaverse dreamed by Mark Zuckerberg.
“I’m excited about the future and how Novi will enable individuals and businesses to transfer money more easily and cheaply, and help creators and consumers innovate in the metaverse,” says the head of Meta’s financial arm.
