Facebook plans to launch Novi Digital Wallet

TL;DR Breakdown • The social network will launch a cryptocurrency under the name “Diem.”• Facebook will launch the Novi platform before the end of the year. The most popular social network on the internet, Facebook, is pleased to launch its first crypto wallet “Novi” and its native crypto “Diem”. The company founded by Mark Zuckerberg and other Harvard University students will enter the cryptocurrency market before the end of the year. Cryptocurrencies like Bitcoin have taken off in price since 2020, with many North American companies looking to invest in them. Facebook has shown interest in cryptocurrencies like other social networks such as Twitter, created by Jack Dorsey. The cryptocurrency market and social networks The businessman behind the crypto proposal on Facebook, David Marcus, says that his team has continued to analyze how to enter the crypto world. As Diem co-creator, Marcus thinks the company is in the best position to enter cryptocurrency trading via Facebook. According to the announcements, the company plans to use the non-fungible tokens within its cryptocurrency wallet. Non-Fungible or NFT tokens are data modules of value stored in a Blockchain network. According to NFT enthusiasts, these tokens are for collectors looking to have a unique virtual product. Several companies and celebrities have benefited from the rise of NFTs, and the social network wants to join this pro...