Meta Rolls Out NFTs on Facebook for Select US Creators

Meta Rolls Out NFTs on Facebook for Select US Creators

As NFTs are suffering from a significant downturn, Facebook begins testing the blockchain tokens in the US on its platform.

Meta, a social metaverse organization, has recently announced that it would be slowly firing up non-fungible tokens (NFTs) for a select group of US creators on Facebook. Navdeep Singh, Meta product manager, shared a sneak peek of what everything will look like:

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Singh mentioned that users will be able to see more details about a particular digital collective by clicking on the creator’s NFT posted on the Facebook timeline.

According to the official announcement issued on June 30th, creators will have the ability to share their work on Facebook under a new “digital collectibles” tab, just like in Instagram, which also added NFT support back in May. More notably, Facebook users will be able to share, like, or comment on the posted NFT, with the possibility to verify NFT ownership by connecting their Facebook profiles to a cryptocurrency wallet, including Rainbow, Trust Wallet, and MetaMask.

Facebook is reportedly starting with Polygon (MATIC) and Ethereum (ETH) NFTs. However, the platform is planning to introduce the unique blockchain tokens on Flow and Solana in the near future as well.

Mark Zuckerberg, CEO of Facebook and co-founder of Meta Platforms, also noted that the company would be introducing 3D and AR-based NFTs that will be displayed on Instagram Stories. Earlier in June, Meta announced that a particular number of users outside the United States will also have the possibility to list their NFTs on Instagram, without any fees or costs.

Adam Mosseri, an American businessman and head of Instagram, recently mentioned that the list of talented NFT creators is exponentially growing every day. Thus, it was essential for Instagram to pursue such an initiative to roll out NFT features on the social media platform. He added:

“Now, we think one really interesting opportunity for a subset of creators is NFTs—the idea of owning a unique digital item.”

Zuckerberg shared that Facebook Messenger and WhatsApp users will eventually be able to share their NFTs on the communication platforms as well.

Gyth L. - Crypto Analyst

by Gyth L. - Crypto Analyst, BitDegree


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