Meta is taking yet another step ahead toward NFT integration on its platform. Meta CEO Mark Zuckerberg took to Facebook to announce several new features the social media giant is adding especially for creators. He said that Instagram, the Meta-owned photo-sharing platform, will now be testing NFT displays for creators within the app. NFTs, or non-fungible tokens, are unique digital entities that exist on the blockchain and can be based on anything from artwork to video clips. In October 2021, Facebook changes its name to Meta to reflect the company’s focus on the metaverse and all its various elements, including NFTs.
Zuckerberg wrote in a Facebook post“We’re expanding our test so more creators around the world can display their NFTs on Instagram.”
ALSO SEE: EXPLAINED | NFT: What Is It? Should Creators Consider Selling Their Art As NFTs?
The Meta CEO added that the NFT display feature will be coming “soon” to Facebook, “starting with a small group of US creators.” Zuckerberg said this will allow creators to cross-post on Instagram and Facebook at the same time.
Zuckerberg also added that Instagram will also start testing NFTs on Stories, with the help of the augmented reality experience-development platform Spark AR.
ALSO SEE: Facebook Pay Becomes Meta Pay: Here’s Everything You Should Know
In other Meta-related news, the company renamed its digital payments platform Facebook Pay to Meta Pay and also launched a digital wallet designed for the metaverse. This comes a month after the company had said that metaverse has the potential to unlock more commerce opportunities and it can make entirely new businesses possible.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.