As Facebook now finalizes the evolution of its proprietary cryptocurrency wallet, Novi, the social media giant could soon be supporting nonfungible tokens (NFT).

David Marcus, head of Facebook Fiscal and co-creator of Facebook-initiated cryptocurrency Diem, said Midweek that the firm is "definitely looking" at possible ways to go involved in the NFT manufacture.

Facebook is because multiple options to introduce NFT features, every bit it finds itself in a "really good position to practise so," Marcus said in a Bloomberg Television interview. "When you have a good crypto wallet like Novi volition be, you lot also take to recall well-nigh how to help consumers back up NFTs," he added.

Marcus said that the Novi crypto wallet is at present "ready to launch" afterwards a couple of years of development, just Facebook has decided to put its launch on concur until the firm gets approval from regulators to move forward with Diem. Facebook began work on the digital currency two years ago, initially nether the proper name Libra. The social media giant would yet consider launching Novi without Diem "every bit a last resort," Marcus said, only he believes that both are necessary for Diem to exist a success.

Related: Facebook's David Marcus calls for 'fair shot' at crypto payments

Facebook released a white paper for its then-called Libra in June 2022, originally planning to peg the digital currency to several fiat currencies, including the The states dollar, the euro, the Japanese yen, the British pound and the Singapore dollar. Due to global regulatory pushback, the Libra Association has been struggling to launch its stablecoin ever since, somewhen rebranding to the Diem Association and redesigning the digital currency to be pegged solely to the U.S. dollar and be regulated under the U.Due south. government.