Altcoin: Just when you thought the NFT excitement had waned, Meta is igniting embers once again with the introduction of new NFT display options on Facebook. Meta, formerly known as Facebook, has started rolling out NFTs for some US creators on its flagship social network. NFTs are being tested on popular altcoin projects Ethereum and Polygon networks. Here are the details…
- 1 Meta begins testing on these altcoin networks for NFTs
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Meta begins testing on these altcoin networks for NFTs
According to a Meta representative, Facebook is starting testing with Ethereum and Polygon NFTs. But it will soon add support for NFTs in Solana and Flow. Meta Product Manager Navdeep Singh shared a sneak peek at what NFTs will look like on Facebook in a Twitter post Wednesday. According to the post, users will have a “digital collection” tab on their Facebook profile where they can showcase their NFTs, which are unique Blockchain tokens that mean ownership.
Users will be able to link their cryptocurrency wallets to their Facebook profiles. They will also be able to turn their NFTs into Facebook posts that can be reacted to, liked, commented on and shared just like any other post. Technology and media consultant Martin Bryant said the company has recently started testing changes to Facebook Groups to “make it more like Discord.” So, he argued, Meta “clearly wanted to offer Web3 users a home” with the announcement.
Facebook’s NFT and metaverse efforts grow
AmkNews.com As we reported, the social media giant started rolling out NFTs on Instagram for some creators in “in some countries” earlier in May. In an earlier announcement, Instagram said that NFTs posted or shared on the app will automatically tag both the creator and aggregator of the NFT. He shared that the company will not charge any fees for sending or sharing NFTs. Collectors will also be able to share their NFTs as stickers.
As you can see in these screenshots posted by meta product manager Navdeep Singh, Facebook users will now be able to create custom NFT posts with a “digital collection” tag. Profiles will also have a new, dedicated NFT section to display.
Meta has made significant progress to increase its market share in the new world since announcing its future NFT integration on Instagram. For example, it has applied for the Meta Pay patent to simplify payments on its platforms and metaverse. In addition, Meta recently announced the introduction of the Avatar Store on Instagram, Facebook, and Messenger, where users can purchase digital apparel to dress up their avatars. Meta also announced that it will open its first physical store, called “Meta Store”, two months ago, where consumers can view and test virtual reality hardware devices.
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