Facebook’s parent company — Meta — is preparing for "deep compatibility" with blockchain, The New York Times has learned, citing an internal post from a top executive.
Andrew Bosworth, Meta's upcoming Chief Technology Officer, hinted in the post that the social network will work closely with blockchain and cryptocurrency technologies. Particularly, he wrote:
My overall guidance is to target a deep compatibility with the blockchain. There aren’t many places where I expect us to depend on it exclusively yet, but if we see an opportunity to work jointly with entrepreneurs in the web3 space I expect it will be worth the effort.
Bosworth, who is currently working as Meta's AR/VR lead, added that the company should also find new ways to add support for non-fungible tokens (NFTs). The timeline for the above-mentioned initiatives remains unclear.
Earlier in December, Instagram CEO Adam Mosseri hinted that the social media giant may soon add support for NFTs as the company wants to find out how it can make these tokens "more accessible to a wider audience."