Meta, previously known as Facebook, has announced that it will now allow users to post their NFTs across both their Facebook and Instagram feeds. The social media giant said that users will need to connect their wallet to post NFTs minted on Ethereum, Polygon, and Flow. Meta will use the public blockchain data to verify the owners and creator/s.
According to the update, initially, select US-based users will be able to share their NFTs across both platforms. Meta plans to offer the option to 100 countries across the Asia-Pacific region, Africa, and the Middle East eventually.
Meta has been experimenting with NFTs on both its platform since May 2022 and the current move will help to strengthen its efforts in Web 3.0—a space where it has faced multiple challenges in the recent past. In the last quarterly earnings report, for instance, Meta revealed that the company has lost $5.7 billion in 2022 while trying to build its metaverse unit. The setback clearly did not stop Meta.
In the blog post announcing the latest decision, the company said: “Every day, creators inspire people and push culture forward around the world. With the incredible opportunity of blockchain technology, they can now leverage new tools to earn income, and fans can support their favorite creators by purchasing digital collectibles—art, images and videos, music or trading cards—as non-fungible tokens (NFTs).”
In the coming months, Meta plans to support all major blockchains and wallets so that more crypto-native people can share digital art on mainstream platforms and improve adoption.