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Top Crypto News: Meta To Include NFTs to Facebook and Instagram For Users

Top Crypto News: Meta To Include NFTs to Facebook and Instagram For Users

Meta announced posting NFTs on Facebook and Instagram

Meta announced that it will allow users to post their NFTs on Instagram and Facebook from crypto wallets.  Users can showcase their NFTs on the social media apps by linking any of the  following wallets: Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet. Currently, the apps will support NFTs minted on FLOW, Polygon and Ethereum blockchain. 

The firm announced the newly added feature on their official blog on Monday. The blog mentioned that this feature will be tested amongst selected US creators and collectors of NFTs. The posting of NFTs will also include automatic tagging of the creator and collector to the NFT asset on the post. 

“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, Meta’s blog post. 

Meta announced on August 4, 2022 that 100 countries will be able to mint their NFTs on Instagram

Meta Integrated with FLOW blockchain to show support for NFT artists. On August 4, 2022, the firm announced its support to 100 countries to enable users to showcase their NFTs on Facebook. Meta also mentioned that they will roll out integrations with Coinbase wallet and Hello Dapper. 

Timeline of Meta’s NFT asset minting support 

Meta has been carrying out various trials to bring digital assets to mainstream social media platforms. Here is a quick glimpse of their testing initiatives with digital collectibles and NFTs on Instagram and Facebook. 

March 2022: Zuckerberg hinted on NFTs coming to Instagram. 

May 2022: Instagram tests NFTs with selected creators. 

June 2022: Meta added more users to test NFTs on Facebook and Facebook began testing the response on digital collectibles with selected US-based creators. 

July 2022: Meta announced NFT support on Instagram in 100 selected countries.

August 2022: Meta announced NFT integration to Facebook and Instagram. 

Meta goes beyond NFT support, and creates digital creation initiatives to empower the creator economy

Besides testing and creating NFT and digital collectible integrations to support the NFT industry, Meta is also foraying into custom animations and metaverse-based projects to reach a wider audience. Zuckerberg mentioned earlier this year that NFTs posted as Instagram stories will be AR Spark compatible.

In May, 2022 Adam Mosseri, Head of Instagram said that the firm is looking at different avenues for collectors and artists to be able to sell and collect digital collectibles. The firm also shared ist interest in creating an art marketplace. 

Zuckerberg sees a massive opportunity in the digital asset space 

Meta struggled with its native coin in February after facing pushback from regulators. Mark Zuckerberg mentioned that there is a massive opportunity to create a revenue stream in the digital asset space. The firm recorded a drop of 1% in revenue in 2022 Q1. 

Additional Read: 35% Rally in FLOW Token after Instagram Integrates with Flow Blockchain NFTs

Source: Tech Crunch, Cointelegraph

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