Facebook now supports NFTs wherein users can now post digital collectibles they have in their digital wallets. Once they connect their digital wallets to the app, they can access their NFTs, as reported by Engadget.
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LONDON, ENGLAND - OCTOBER 29: In this photo illustration, three screens display the splash page for the Meta page on the facebook website on October 29, 2021 in London, England. The Facebook company, which owns Facebook, Whatsapp and Instagram, has announced that it is rebranding, changing it's name to "Meta".
Just recently, Meta has expanded access to Instagram's NFT functions in several countries. It is also noted that the company started to test NFTs on Facebook earlier this summer, and this shows the social media giant's commitment to dive deeper into NFT territory.
In a blog post the company said, "As we continue rolling out digital collectibles on Facebook and Instagram, we've started giving people the ability to post digital collectibles that they own across both Facebook and Instagram. This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both."
Despite digital tokens being in troubled waters in recent months, Meta doesn't seem to see this as a huge risk. In fact, its move to dive deeper into NFTs have churned speculations that the company is working on a marketplace where people can trade NFTs.
Also Read: Facebook Finally Explains The Weird Glitch That Spammed Celebrity Pages - Is It Resolved Now?
Custom Animations
Aside from this, the company is working on customer animations for NFT posts and digital collectible collections, as reported by Techcrunch. Earlier this year, Mark Zuckerberg mentioned that the company is working on displaying NFTs through Instagram Stories and make them compatible with the Spark AR as well.
Meta is trying to reach a wider audience as they introduce features that will let people show their digital collectibles through posts. Their plan is to support major blockchains and wallets to enable more crypto-native people display digital art on a mainstream platform. On the other hand, those curious about cryptocurrency can look at NFT posts like how they would normally scroll through their feeds so that they can learn more about them.
NFT Marketplace Soon?
It is known that many artists were already posting their NFT creations on Instagram even before the platform started supporting now. And today, Meta is trying to make money from by making a long-term roadmap for creator support.
Additionally, in May, Adam Mosseri, the head of Instagram said that they are exploring digital collectible sales to provide creators with another avenue to make money. They also expressed their desire to build a digital art marketplace where users can purchase items in the metaverse.
Meta supports NFTs from Ethereum, Polygon, and FLOW.
Related Article: Facebook NFTs Slowly Rolls Out to Select Creators, Cross-Posting Coming Soon
This article is owned by Tech Times.
Written by: April Fowell
