Meta\u2019s CEO Mark Zuckerberg just announced another wave of 10,000 layoffs starting this month until May. The move is part of the company\u2019s plans to have a \u201cyear of efficiency.\u201d Other big plans include prioritizing AI tech instead of the Metaverse and \u201cwinding down\u201d NFT features. But is the community pleased?<\/p>\n When Facebook became Meta in October 2021, the giant company created entire departments dedicated to Web3 innovation. Fast-forward to 2023, things don\u2019t seem to align as founder Mark Zuckerberg may have planned.<\/p>\n Earlier today, the Meta CEO confirmed there would be 10,000 layoffs from the recruiting, tech, and business departments in the upcoming months. The concerning news comes after the company cut another 11,000 employees back in November 2022.<\/p>\n Accordingly, these tough decisions might be part of Meta\u2019s \u201cyear of efficiency,\u201d as Mark Zuckerberg described. During the same statement, the CEO also revealed the company would prioritize AI tech development instead of its alleged plans to grow the Metaverse.<\/p>\n In other words, Meta\u2019s interest in the metaverse seems to have faded away. Instead, the global company now has its eyes on AI after the roaring success of language models such as ChatGPT. While this doesn\u2019t mean that their Metaverse will disappear overnight, Meta might invest less and less into this area of its business.<\/p>\n Part of Meta\u2019s recent wave of changes also concerns their NFT agenda. On March 13th, the company\u2019s Leading Commerce & FinTech Stephane Kasriel revealed the brand is less interested in NFTs:<\/p>\n \u201cAcross the company, we\u2019re looking closely at what we prioritize to increase our focus. We\u2019re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses,\u201d<\/em> he said in a tweet<\/a>.<\/p>\n What could this mean? For starters, it means Instagram and Facebook will offer less support for NFT creators to share their projects via social media. Last year, Instagram (and then later Facebook) tested a new feature where NFT creators could share collectibles directly within the apps.<\/p>\n As a result, the Twitter NFT community quickly reacted to Kasriel\u2019s message. Some users said the move was \u201cshort-sighted\u201d and criticized the company\u2019s decision.<\/p>\n From layoffs to cutting NFT app features, Meta definitely had an interesting start this year and it\u2019s worth looking into the company next.<\/p>\n Get our free, 5 minutes daily newsletter. Join 25,000+ NFT enthusiasts & stay on top \ud83d\udc4a\ud83c\udf1a<\/p>\n<\/div>\n<\/div>\n![\"image](\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/03\/mark-zuckerberg-meta.jpg.webp)
\n<\/picture>\n<\/noscript>What Do Meta\u2019s 10k Layoffs Mean for The Metaverse?<\/span><\/h2>\n
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\n<\/picture>\n<\/noscript>How Are Meta\u2019s NFT Plans Going to Evolve?<\/span><\/h2>\n
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