Social media giant Meta announces that the 2.9 billion users of Facebook and Instagram are now allowed to post their non-fungible tokens (NFTs) and other digital collectibles to their accounts by linking their wallets.
In an update for a May 10 blog post, Facebook’s parent company shared the news which will now “enable people to connect their digital wallets once to either app in order to share their digital collectibles across both.”
“As we continue rolling out digital collectibles on Facebook and Instagram, we’ve started giving people the ability to post digital collectibles that they own across both Facebook and Instagram,” said Meta.
Last August 4, Meta CEO Mark Zuckerberg announced the beginning of the international expansion of the NFT support of its photo-sharing platform Instagram. Instagram users across 100 countries could post digital collectibles minted on the Flow blockchain or from wallets supporting the Ethereum or Polygon blockchains to their accounts. (Read more: Meta Expands NFT Support on Instagram to 100 Countries)
Before these, the testing phase was done last May where the display of NFTs on Instagram was only available to select creators in the United States. (Read more: Instagram Testing NFTs This Week; Facebook To Begin Soon)
Currently, the platform supports connections with third-party wallets including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet.
On the other hand, Meta launched the integration of NFTs on its social media network Facebook last July—just a week later after the announcement of Zuckerberg. (Read more: Meta Launches NFT Display on Facebook)
While Meta has been actively pushing for its web3 venture, the company priorly planned to release virtual coins, tokens, and lending services on its apps according to their announcement last April. (Read more: Meta Exploring Non-Blockchain-Based Virtual Currency)
To show their dedication to enter the metaverse, Mark Zuckerberg changed the company’s name to Meta in October last year to “bring the metaverse to life and help people connect, find communities and grow businesses.”
Prior to these, the company also suffered failures in their first attempts especially with launching their cryptocurrency platform Diem Payment Network. (Read more: Facebook’s DIEM Formerly Known as Libra Shuts Down Without Ever Launching)
On the other hand, while Diem failed several times, their fintech venture wasn’t a complete failure as Novi, Facebook’s digital wallet has successfully acquired a Virtual Asset Service Providers (VASP) license from the Banko Sentral ng Pilipinas (BSP) in 2021. (Read more: PayMaya and Facebook Novi Philippines Receive Virtual Currency Exchange License from the BSP)
This article is published on BitPinas: You Can Now Post Your NFTs on Facebook and Instagram
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