The ephemeral NFT capabilities were originally introduced in May, but according to Meta's financial technology lead, the company is "winding down" the tools to concentrate on other areas.

According to the United States Department of Justice, "Jay Manzini," a reputed Instagram influencer, may serve up to 20 years in federal prison for crimes including money laundering, wire fraud, conspiring to conduct wire fraud,

The company's blog stated that a "small group of creators in the US" will have initial access to the service, similar to many traditional NFT markets.

Meta is testing digital collectibles on Instagram this week with a small group of US creators and collectors who can share NFTs that they have made or purchased.