David Marcus, the co-creator of Facebook's (NASDAQ: FB) cryptocurrency project Diem and the CEO of Facebook Financial, has announced that the business is looking into entering the NFT industry.
In an interview with Bloomberg Television, he remarked, "We're obviously looking at the number of ways to get involved in the sector because we think we're in a pretty strong position to do so."
He claims that the social networking site is already in a “really good position” to include NFT functionalities.
Marcus announced that Facebook's Novi crypto wallet is finally ready to debut after a few years of development. However, the company has reportedly postponed the actual launch unless regulators approve its cryptocurrency project Diem.
The business renamed its cryptocurrency project Diem from “Libra” in December 2020 to reflect the project's "growing maturity and independence."
Diem will be backed by government cash, unlike Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and most other decentralized cryptocurrencies.