The support of digital collectibles (NFT) is a possibility that Meta, the parent company of Facebook, has already been considering since March 2022. Mark Zuckerberg even planned to implement NFT Mint support on Facebook. What would be the upheaval caused by such integration? Who would benefit the most from it?
A profitable integration for creators and collectors
Mark Zuckerberg, the CEO of Meta, said that the test of digital collectibles will begin first of all on Instagram. The collectors and creators concerned will have the opportunity to share NFTs on IG, and this for free. The publication and sharing of a digital collector’s item will thus be free of charge.
This test is scheduled for this week, Meta has already been working on the project since last March. However, no specific deployment date has yet been disclosed.
The purpose of this incorporation is to allow collectors and creators to display their NFTs on their profile. That said, Adam Mossier, the head of IG seems to value the economy of creators. Thus, he supports the project allowing them to earn a good living through NFTs.
To optimize the user experience, Meta is also considering providing augmented reality support for NFTs on Instagram Stories. For this, he intends to use the tools of his Spark AR Studio.
Facebook Instagram, NFTs will quickly land on Facebook. The objective is undoubtedly to affirm the importance of NFTs, Blockchain technology and Web3 in its entirety.
Facebook Instagram NFT partnerships
Previously, the Facebook NFT story was just a headline-grabbing rumor. It is now on the verge of becoming a reality. Thus, there is indeed a tangible partnership between Meta Platforms INC and NFT.
Instagram Facebook is venturing more broadly into the field of cryptography by starting to take an interest in non-fungible tokens. There is no denying that the cryptocurrency market is experiencing a blatant imbalance at the moment. The price of many assets keeps falling, including the most famous ones like Bitcoin (BTC). This does not seem to prevent these powerful platforms from openly welcoming NFTs.
Ryan Wyatt, the CEO of Polygon Studios claims that they have a partnership agreement with Meta. Then, Instagram will be able to use NFTs offered by the blockchains Ethereum, Solana and Flow.
Facebook Instagram and Facebook’s integration of non-fungible tokens is thus an official decision made by Mark Zuckerberg. This digital collectibles support feature is a boon for all users, creators and collectors who earn money from NFTs.
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