Facebook will support nonfungible tokens (NFTs) with a “digital collectibles” tab on creators’ timelines to display their work. Meta technical program manager Navdeep Singh provides screenshots of NFTs and a creator’s page Thursday on Twitter. The gradual rollout started in the United States.
the same day a representative for Meta, the parent company of Facebook, told TechCrunch that the rollout of NFTs on Facebook would be gradual, beginning with select creators in the United States. Eventually, NFT creators can cross-post between Facebook and Instagram, another Meta property. Instagram is also testing NFTs in its Spark AR amplified reality platform.
Instagram extended its NFT trial from the U.S. to international users last week. The app permits NFTs minted on Ethereum and Polygon to be displayed, with other NFTs from Solana and Flow planned as well.
Meta declared in May that it was commencement tests of NFTs on Instagram, with Facebook to follow suit “soon,” according to CEO Mark Zuckerberg. He added, that other Meta-owned apps, such as WhatsApp and Facebook Messenger, will get NFT display capabilities eventually.
Facebook named as Meta in October 2021. It has been motivated to expand in Web3, but not all of its efforts have been positive. Meta gave up on its attempt to launch the Diem stablecoin in February after weighty opposition from regulators worldwide. However, Meta filed trademark applications for a Meta Pay payments platform in May and Zuckerberg declared on June 22 that Meta Pay would replace Facebook Pay.
Meta Pay will be available on Facebook, Instagram, WhatsApp, and Facebook Messenger, Zuckerberg stated. Though, a company representative told TechCrunch that Meta “said that it won’t offer the ability to turn digital collectible posts into ads for now” on Facebook, so it appears that Meta will not introduce NFT sales there.
The sale of NFTs is likely to launch on the company’s Meta Quest app store, which supplies apps and games for Meta’s Metaverse.
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