Meta launch Instagram and Facebook NFT functionality
Mark Zuckerberg, the creator and CEO of Meta, revealed today that both the Facebook and Instagram platforms would allow users to connect their digital wallets and post-non-fungible tokens (NFTs) on their social media profiles. This development has been in testing since May 2022.
What’s the reason behind the Instagram and Facebook NFT feature?
This change is expected to improve social media engagement and give NFT producers new earning possibilities. The recently revealed NFT capabilities for Facebook and Instagram represent a significant step forward for Meta.
Meta's goals to continue exploring the possibilities of blockchain technology and Web 3 within its platforms are bolstered by this move. Considering Facebook and Instagram's massive user bases, adding NFTs could result in accelerated growth fuelled by demand from their target market of digital natives.
The capability to share NFTs on Facebook and Instagram will surely raise awareness and interest in NFTs. As the crypto market enters its tenth month of being in a bear market, there is little enthusiasm for non-fungible tokens. However, NFT values are not always affected by what happens in the crypto sector.
Users can now connect to their digital wallets to speed up the process. There are currently few choices for blockchain networks that provide seamless links to Facebook and Instagram. To post NFTs to these social media platforms, users must connect their NFT networks to Meta.
Users now have access to third-party blockchain wallets such as Trust Wallet, Dapper Wallet, Coinbase wallet, and Metamask wallet for the time being. The procedure supports digital collectables created on the Polygon, Ethereum, and Flow networks.
Mark Zuckerberg's team has been hard at work on digital collectables, announcing developments before this recent announcement. The group stated their ambitions to incorporate NFTs on Instagram throughout the year until July when Meta launched NFT support in 100 countries.
Although NFT capabilities are available in over 100 countries on Instagram, the recently launched functionality that allows for cross-posting on both platforms is only available to US users.
Similarly, the new capabilities will raise awareness and demystify the Web 3 ecosystem for regular social media users, who can navigate among different NFTs the same way they do images.
Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.