Technology giant Meta Platforms Inc has stated that Facebook users can now start to post their non-fungible tokens (NFTs) on their Facebook (NASDAQ: FB) accounts. It means that Meta clients can directly post their NFTs on both platforms – Instagram and Facebook.
The social media behemoth started with the linking of NFT Instagram in May. Meta has now updated the May 10 blog post to confirm its support for NFTs through both Facebook and Instagram. Meta’s move to enable nonfungible tokens on Instagram and Facebook will bring digital collectibles to around 3 billion users globally.
Based on the update, users can now post their digital collectibles on both the Meta-owned platforms. In that context, NFT owners can connect their digital wallets to either of the two platforms to share their digital collectibles on both.
Apart from linking a digital wallet and sharing nonfungible tokens, the new feature will automatically tag the collector and creator of digital collectibles while sharing on social media platforms.
“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. This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both.”
Facebook Joins Instagram In NFTs Support
Meta’s move to enable nonfungible tokens on Instagram and Facebook will bring digital collectibles to nearly 3 billion users globally. It means that the incorporations will expose NFTs to a big audience. The firm stated that it would start with testing this week, involving several US developers and collectors.
While developers and collectors can share nonfungible tokens they have developed or purchased, no fees will be needed for posting or sharing on Instagram. The latest effort by Facebook to cross-post nonfungible tokens is another sign that Web2 firms are relentlessly pushing towards Web3.
Today, the Facebook parent firm supports Polygon, Ethereum, and Flow NFTs on its two social media platforms. Moreover, the cryptocurrency wallets acceptable by the firm for sharing and validating nonfungible tokens include Trust Wallet and Rainbow. Others are MetaMask, Dapper, Coinbase Wallet, and Rainbow.
Since Meta purchased Instagram, the boundary between the two platforms has slowly disappeared. First, users can cross-post their stories across Instagram and Facebook. The same goes for the normal posts – the users can upload the same picture or video on both platforms through any of them.
Meta has been considerably down for the last year, losing over 58%. In addition to a separate 52.68% drop, the firm has also dropped 18.43% in the past three months. Data indicates that Meta Platforms stock is down 0.48% over the last month and 2.38% in the last 5 days.
Twitter became the first social media platform to embrace nonfungible tokens at the beginning of 2022.
