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Facebook on mobile application
Metaverse Metaverse

NFTs could explode with Facebooks major plans to integrate digital creator wallets

July 3, 2022
in NFT

Facebook has begun testing a new digital collectables tab with select creators in the USA. Creators will be able to display their non-fungible-tokens (NFTs) on their timelines. Meta technical program manager Navdeep Singh displayed screenshots of the digital collectables support on Twitter.

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Clicking an NFT post will show details about that digital collectable, such as the name of the collection and its creator.

This comes after Meta CEO Mark Zuckerberg said that the company is exploring plans to allow users to create, showcase and sell NFTs on Facebook and Instagram. Facebook will integrate with Ethereum, Polygon, Solana, and Flow blockchain networks to facilitate this. Users will have to add their crypto wallets such as Metamask and prove their NFT ownership before showcasing it on the platform.

The rollout of NFTs on Facebook would be gradual, beginning with select creators in the United States. A Meta spokesperson said “Eventually, NFT creators will be able to cross-post between Facebook and Instagram, another Meta property. Instagram is also testing NFTs in its Spark AR augmented reality platform.”

In December 2021, Instagram leader Adam Mosseri said that the social network was “actively exploring” NFTs. In an Instagram Q&A posted to his Stories, Mosseri was responding to a question about his thoughts on integrating NFTs into Instagram. He said, “Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a broader audience.” Before that, Zuckerberg also spoke in October about how the metaverse will need to support “ownership of digital goods or NFTs.”

Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party, and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high-risk, with high-risk and unproven projects.

Readers should do their own research and consult a professional financial advisor before making any investment decisions.

Tags: facebookmeta

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