• Meta Platforms, the parent company behind Facebook and Instagram, announced it would be winding down its NFT program.
• AI continues to make its way into Web3 with intellectual property (IP) rights of works created with the help of AI being discussed.
• We spoke to NFT artists about their view on utilizing AI in their work.
Meta Platforms End Support for NFTs
Meta Platforms, the parent company behind popular social media websites Facebook and Instagram, recently announced that it would be winding down its support for NFTs after a test period of several months. This feature allowed some NFT creators to mint and sell their creations on the platforms, as well as allowing collectors to display their NFTs. Stephane Kasriel, Meta’s head of commerce and financial services, said in a statement that while they had “learned a ton” during the test period they would continue to build products which supported creators and people interested in buying art digitally.
AI’s Impact on Web3Meta
As artificial intelligence (AI) continues to become more prevalent within Web3 platforms, questions have been raised about the intellectual property (IP) rights of works created with the help of AI. To gain insight into this issue we spoke to several NFT artists about their views on utilizing AI in their artwork or digital creations.
NFT Artists Speak Out
The feedback from many of these artists was mixed but largely positive – some were hesitant due to fears around IP rights while others were excited by what could be done using such technology. Several suggested that there should be regulations put in place regarding how much control an artist has over an artwork once it has been generated through AI processes. In general though many agreed that using AI could open up new possibilities within digital art creation which could potentially benefit both artists and buyers alike.
Web3 Creators Affected
The news from Meta Platforms is definitely a setback for Web3 creators who use social media as part of their promotion strategy or just to interact with other members of their community – however there are still plenty of alternatives out there for those looking for ways to market themselves or sell their art online without relying solely on Meta Platforms’ services.
Conclusion
Although ending its support for NFTs is disappointing news for some web3 creators, it doesn’t mean that creators can’t still find success online through alternative outlets like decentralized exchanges or even through integrating new technologies like AI into their workflows – something which many are already doing with great results! As more regulation comes into play regarding IP rights when using such technologies we may see even more exciting opportunities emerge in the near future!