29.11.2021

Facebook will add NFT storage capability to its Novi cryptocurrency wallet

Social network Facebook is considering storing non-fungible tokens (NFT) in Novi’s own cryptocurrency wallet. The  head of Facebook Financial David Marcus said in an interview with Bloomberg.

According to Markus, the company is considering “several options at once” for providing its services in the cryptocurrency market . However, he did not specify what options Facebook is considering.

“When you have a good crypto wallet like Novi, you also need to think about how to help consumers support NFT,” he said.

It also remains unknown whether Facebook will deploy its own censored NFT marketplace , as, for example, did in Alipay, or use ready-made cryptocurrency market tools. Markus added that the wallet itself is completely ready. However, the company wants to launch it alongside  Diem  (formerly known as  Libra ), Facebook’s stablecoin .

However, the head of Facebook Financial admitted that the social network “as a last resort” will launch Novi without Diem, which is the least realistic scenario so far. In his opinion, developments will have an impact on the financial market only if they exist simultaneously. He also lamented that the United States is lagging too far behind China in the race to digitalize the economy .

Diem launch dates are still not announced. It’s no secret, however, that US financial regulators are not happy with Facebook’s idea of ​​entering the payments market. Earlier  it became known that the US Treasury was concerned about the potential scale of the spread of Diem due to the large infrastructure of the social network.

As of August 2021, the number of monthly active Facebook users is close to 2.9 billion people.

Hype in the NFT market is breaking records

The non-fungible token (NFT) market continues to set new records. According  to  Dune Analytics, on Tuesday, August 24, OpenSea set a record daily trading volume of $ 209 million. And the day before, on Monday, the trading volume was $ 194 million, which was also a record value. 

Monthly trading volume on OpenSea in August has already approached $ 2 billion, which is more than 5 times higher than the previous record – $ 325 million, which was recorded in July.

OpenSea Monthly Trading Volume

At the same time, some of the popular collections of NFT tokens have also reached record trading volumes. CryptoPunks started trading up immediately after Visa announced that it was buying one of them. As a result, the trading volume on Monday reached a record $ 101.4 million. 

Also the collection of artworks from various artists Art Blocks has become especially popular. On Monday, the trading volume was $ 69.4 million. One of Tyler Hobbs’s Fidenza works was sold for 100 ETH (about $ 3.3 million). Today it is the most expensive work from the Art Blocks collection. 

“Fidenza # 313 sold for an incredible price of 1,000 ETH ($ 3,345,390). Two months ago, the seller paid 0.58 ETH for this work! “

Well, the cherry on the cake is a collection of stone images. The EtherRocks collection consists of JPEG files depicting rocks. They are bought for hundreds of thousands of dollars, although these NFTs have no practical value other than the trading itself. 

2 weeks ago, the cheapest stone cost $ 100,000, on the weekend one of them was bought for $ 305,000. On August 23, in the evening, 400 ETH ($ 1,326,280) was paid for one EtherRock number 42. 

EtherRock 42 was bought for 400 ETH ($ 1.3 million) 7 minutes ago.

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