Equally Facebook now finalizes the development of its proprietary cryptocurrency wallet, Novi, the social media giant could soon exist supporting nonfungible tokens (NFT).

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

Facebook is because multiple options to introduce NFT features, equally information technology finds itself in a "really good position to exercise so," Marcus said in a Bloomberg Idiot box interview. "When you take a good crypto wallet like Novi will be, you besides accept to think about how to aid consumers support NFTs," he added.

Marcus said that the Novi crypto wallet is at present "fix to launch" after a couple of years of development, simply Facebook has decided to put its launch on hold until the firm gets approving from regulators to move frontward with Diem. Facebook began work on the digital currency two years ago, initially under the name Libra. The social media behemothic would still consider launching Novi without Diem "as a last resort," Marcus said, merely he believes that both are necessary for Diem to be a success.

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

Facebook released a white paper for its and so-called Libra in June 2019, 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 always since, eventually rebranding to the Diem Association and redesigning the digital currency to be pegged solely to the U.S. dollar and exist regulated under the U.Due south. government.