Meta has announce that is pulling the plug on Novi, its crypto payments wallet pilot project is launched last year October. The tech giant says the wind down is on 1 September.
“Novi will no longer be available for use after September 1. Before Novi goes away, we’ve made it easy for you to get your remaining balance and download your Novi information.”
CoinDesk states, beginning July 21, users will lose the ability to add money to their accounts. Novi’s WhatsApp account and the Novi app will also become unavailable. Once the pilot ends, users will not have access to their transaction history and other data.
Meta in a statement said: “We are already leveraging the years spent on building capabilities for Meta overall on blockchain and introducing new products, such as digital collectibles.”
“You can expect to see more from us in the Web3 space because we are very optimistic about the value these technologies can bring to people and businesses in the metaverse.”
This comes after a number of tech and crypto companies scale back on future projects, while others are laying off staff and cutting jobs.
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