The future of Metaverse is positive with new developments happening in the cryptocurrency space.  NFTs are very important in the metaverse and more companies are working on NFTs.

NFTs are flexible as a format and it has lot of room for improvement and they have already made their way in to entertainment, art, retail and also gaming industries.  Creative industries have boomed in the market with several launches of new projects and collaborations.

NFTs are working with an ambitious vision using the revolutionary technology of the online asset market with blockchain developers.  Entertainment in combination with NFTs are worth the expectation.

For instance, Novi Digital Wallet is a connected wallet for the connected world. It is a new digital wallet for the Diem payment system that helps you keep more of your money. Novi is changing the way money moves.  They are making it possible to have money move more freely for more people.

Novi is from Facebook, so you’ll be able to access it from your favourite apps.  It just looks like Facebook is in a good position to explore and support NFTs using its new digital wallet.

Sending money is now as easy as sending messages with Novi and what you send is what they get. Thus, you can add, send, receive, and withdraw money from your wallet without worrying about hidden charges. Customers are verified with a government-issued ID to protect their accounts. Novi has built-in fraud protections, in-app reporting, and dedicated customer care. In the event of fraud, you will be eligible to receive a full refund.

Novi is a regulated financial company from Facebook that will keep your account and financial data confidential and secure. Your Novi transaction history will only be visible to you.

David Marcus, head of Facebook Financial and co-creator of Facebook-initiated cryptocurrency Diem, previously stated that the firm is “definitely looking” at possible ways to get involved in the NFT industry.

Diem is a new global payment system.  Designed to help enable open, instant, and low-cost payments around the world. Built on a secure, scalable, and reliable blockchain that gives people equal access to financial services. Backed by the Diem Reserve of assets made up of cash or cash equivalents and short-term government securities.

However, it is expected that regulators in the US may yet hinder the social media giant’s plans.  Novi and Diem are not new as they were previously Calibra and Libra. The behaviour of regulators is becoming important moving forward.