Meta Expands NFT Integration to Facebook
- The 2.9 billion active monthly users of Facebook are now able to post their digital collectibles and NFTs on their Facebook accounts.
- The feature was first available to a limited number of Instagram users, but was later expanded across 100 countries, with support for Ethereum, Polygon, and Flow blockchains.
Meta CEO Mark Zuckerberg delivers the F8 2018 Keynote speech. Anthony Quintano/Wikimedia Commons
Social media giant Meta has expanded its non-fungible token (NFT) program, enabling users to post their digital collectibles and NFTs on their Facebook accounts, the company said via Twitter on 29 August.
According to the announcement, Meta’s NFT integration is now available on two its most popular social media platforms, Facebook and Instagram. The move will not only allow users to connect their crypto wallet to either app and post their digital art on both platforms, but also expose Facebook’s 2.9 billion active monthly users to the world of NFTs and digital collectibles. The company said in an update:
“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.”
The social media giant first began limited tests of its NFT integration on Instagram back in May, when a “handful of U.S. creators and collectors” were allowed to share their NFTs on the platform. Earlier this month, Instagram’s NFT integration was expanded to over 100 countries — in the Americas, Asia-Pacific, Middle East, and Africa regions — and the supported blockchains increased to include Ethereum, Polygon, and Flow.
Meta was not the first social media giant to try and leverage the popularity of the NFT market, with Twitter having introduced a feature that allowed its Twitter Blue users to post their NFTs as profile pictures back in January. Video sharing platform YouTube also revealed in January that it was considering several ways to help creators capitalize on emerging technologies, one of which was NFT features.
- Sui Network was developed by Mysten Labs, which was founded by ex-Meta employees, using the Rust-based Move programming language.
- Unlike other blockchains that use proof-of-work and proof-of-stake consensus mechanisms, Sui relies on delegated proof-of-stake that allows users to elect and vote for delegates.
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- Music streaming giant Spotify has launched a new “token-enabled playlist” pilot, which gives holders of specific NFTs access to exclusive content on its platform.
- Participating in the pilot are NFT platforms Overlord, Fluf, Moonbirds, and Kingship, though only Android users in the U.S., U.K., Germany, Australia, and New Zealand will have access to it.
- Meta will soon offer NFT creators an “end-to-end toolkit” that will enable them to mint and sell their digital collectibles directly on Instagram.
- The company will add support for the Solana blockchain and Phantom wallet, and further expand its supported blockchains with the addition of Solana.