The Novi wallet will allow the exchange of non-fungible tokens (NFTs) in the Facebook metaverse

Facebook becomes Meta and teases the arrival of NFTs in the metaverse

This Thursday, October 28, 2021, Facebook organized an online conference called “Facebook Connect”. At 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 “fictitious digital universe, in which individuals could evolve in shared three-dimensional” spaces.

This universe, presented as the future of 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 metaverse at Facebook, confirmed the Silicon Valley giant’s interest in certificates of authenticity on the blockchain. During his presentation, Mark Zuckerberg also mentioned on several occasions the idea of ​​exchanging “digital goods” 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 securely resell them to another person,” Vishal Shah says.

👉 On the same theme: Photoshop software adds an option that facilitates the creation of NFTs

NFTs will be integrated into the Novi digital wallet

Unsurprisingly, 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 support the deployment of Diem, Facebook’s stablecoin. A few months ago, David Marcus, the current head of the financial division of the Meta group, had indeed announced the arrival of NFTs in the Novi application in the years to come. 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 their Twitter account.

Today with Facebook becoming Meta, we’re unifying our payments and financial services unit and products under the @Novi brand. Let me unpack what this will mean across @Meta. 1/7

– David Marcus (@davidmarcus) October 28, 2021

“Over time, we will unify all existing and future payment and financial services experiences under the Novi brand,” explains David Marcus 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 free exchange of Pax Dollar (USDP), a regulated stablecoin offered by Paxos. In the near future, this wallet will be integrated into the services developed by Meta, including Facebook, Messenger, WhatsApp and Instagram. He will obviously be one of the cornerstones of the future metaverse dreamed of by Mark Zuckerberg.

“I am excited about the future and how Novi will make it easier and cheaper for individuals and businesses to transfer money, and to help creators and consumers innovate in the metaverse,” specifies the head of the financial branch of Meta.

👉 On the same subject: the stablecoin Diem seeks to stand out from Facebook

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About the author: Florian Bayard

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