The social network has decided that its Gifts feature is not working and that from now on it will instead focus on helping others promote their own gifts and goods via the site.
When Facebook Gifts went live in the US in September 2012, it actually sold real-world presents that users could buy and send to their friends.
The service was scaled back in August 2013 to focus solely on gift cards for iTunes, Starbucks and Domino's among others. And now, less than a year later, Facebook is shuttering the service altogether.
From August 12, the service will be no more, however, if you've used Facebook Gifts or still have a gift card with remaining credit bought via the site, there's no need to panic. The closure won't affect its validity.
Facebook says that it will be taking the lessons learned from Gifts and using them to help businesses market and sell their wares directly to the site's billion+ users instead.
And one of the ways it could achieve this is via the recently unveiled ‘buy button'. Announced on July 17, the idea is that if an ad on Facebook features the button, a Facebook user can click on it and purchase the product or service in question, without leaving Facebook to do so.