Meta, earlier known as Facebook, has announced that it would test non-fungible tokens (NFT) with select creators in the United States. The social media giant will begin with Ethereum and Polygon NFT, but it will soon add support for Solana and Flow NFT.
This feature allows artists to show NFT on their profiles under a new tab, and the artwork will be labeled "Digital Collectables". If the technique is widely adopted, the users will be able to connect their bitcoin wallets to their Facebook accounts.
This will allow for the NFT's easy colleague to the transaction to the platform.
In a tweet on Wednesday, Meta Product Manager Navdeep Singh revealed how NFT would appear on Facebook. The Post states that users' Facebook profiles will have a "digital collections" area, where they can display their NFTs, which are special blockchain tokens that represent ownership.
We're launching NFTs on Facebook! Excited to share what I've been working on with the world. pic.twitter.com/TaV66zRanV— Navdeep Singh (@navdeep_ua) June 29, 2022
Users will be able to connect their Facebook accounts to their bitcoin wallet. They will also have the option to convert their NFTs into a Facebook post, which can be shared, preferred, commented on, and replied like any other post.
According to Bryant, Meta claims "clearly the web 3 wants to accommodate people" because the firm has just begun to test the amendments in Facebook groups that will make them "discord-like".
According to a Meta spokesperson, the social networking behemoth has started rolling NFT for select creators.
Instagram earlier said that once you upload or share NFT on the app, it will automatically tag the manufacturer of the product and collector.
There is also no posting or sharing cost. Creator will also be able to use NFT as a promotional reality sticker. According to Adam Mosseri, CEO of Instagram, the company's decision to include NFT features was influenced by the growing creative economy.
Facebook's move comes in the world of NFT as the popularity of digital assets is increasing.
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