Meta has announced that all users on Facebook will be able to post NFTs and display them on their profiles. Users can also now connect their wallets to Facebook and Instagram to share their NFTs.
Meta has announced that Facebook now supports NFTs and that users will be able to post their digital collectibles on the social media platform. The social media giant already allowed users to post NFTs on Instagram but has not established NFT functionality on Facebook until now.
Users can connect their wallets, such as MetaMask, Trust Wallet, and Coinbase Wallet, to display NFTs on both platforms. The supported networks are Ethereum, Polygon, and Flow. Speaking of the addition on Facebook, Meta 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.”
Meta makes it clear that there are no fees associated with posting or sharing NFTs. There are also rumors that it plans to launch its own NFT marketplace, though there hasn’t been an update on this in a while.
Meta had already allowed select users to display NFTs on their profiles under a digital collectibles tab. Users could react to the NFTs, which could be turned into Facebook posts, with likes, reactions, and comments.
The company also continued with its intention to offer NFTs, despite the crypto winter that has taken place. Stephane Kasriel, Meta’s head of fintech, said in an interview that the plan had not changed because of the market downturn and that it will still be intent on serving creators.
The response from individuals on social media has been ambivalent, with some praising the move into web3. Others are more skeptical because of the reputation that Meta has.
Meta has been going all in on the metaverse, and it’s clear that this is the future CEO Mark Zuckerberg sees for the company. It has made multiple research and development efforts in this direction, though it has hit the company’s business hard.
Meta has been in the news for its Horizon Worlds app, which launched in France and Spain. Criticism was swift, largely targeting the graphics of the company’s first foray into the metaverse. Zuckerberg promised that major graphic updates would arrive soon.
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