Meta announced an update for non-fungible tokens (NFTs) on Monday, 29 August 2022, allowing users to post their NFTs across both Facebook and Instagram from one digital wallet linked to both social handles. One can use digital wallets to post digital collectibles minted in Ethereum, Polygon, and Flow, such as Rainbow, MetaMush, Coinbase wallet, Dapper wallet, and Trust wallet.
In a blog explaining NFTs, Meta said, ‘Creators today are using NFTs to take control of their work, their relationship with their communities, and how they can monetize.’ Furthermore, the company thinks NFTs will be an essential part of how people buy, use, and share virtual objects & experiences.
Meta seems determined to make the metaverse a thing by doubling down Facebook and Instagram to allow NFTs. The NFT post looks like normal posts but has the badge “digital collectible” at the left side corner and will feature a shimmer effect displaying public information like a description.
Read more: Google AI transforms nearly 10,000 BAYC NFTs into machine-made art
The experiments with NFTs have been in action since May, and Meta has done a significant job on NFTs by gradually stepping up till now. From the beginning of 2022, in March, Mark Zukerberg stated NFTs were coming soon to Instagram, in May, Instagram started testing NFTs, and in June, more people were included in testing, and Zukerberg said NFTs would soon come to Facebook too. Then in July, Meta launched NFT support on Instagram across 100 countries, and now in August, it announced a new update allowing users to post NFTs on both Facebook and Instagram.
Meta has extended their support by showcasing different digital collectibles and working on custom animations for NFT posts & digital collectible collections. In addition, earlier this year, Zukerberg mentioned that Meta plans to work on displaying NFTs on Instagram stories and make them Spark AR compatible.