NFT to be supported by Facebook and Instagram: The next company to ride the NFTs wave may be Meta. According to Financial Times sources, Meta develops ways to create, display, and sell those on Facebook and Instagram.
One informant said that the company’s Novi wallet technology will be responsible for most of the “support function,” one informant said. Instagram is testing how to showcase non-fungible tokens, and Meta is discussing a marketplace to help buy and sell these digital collections.
The company has already declined to comment; sources say the effort is still in its infancy and is subject to change. However, Instagram leader Adam Mosseri said in December 2021 that his social network was “actively seeking non-fungible tokens.” At least, this technology is in the company’s mind.
Entry into non-fungible tokens makes sense. Some companies abuse the connection between NFTs and the Metaverse (it’s not just about providing NFTs to create the Metaverse). Still, Meta is helping the virtual world inhabitants sell unique digital products. If non-fungible tokens prove to be more than a temporary trend, this Meta move may help prevent third-party platforms like OpenSea from gaining too much control.
Important point regarding NFT Market
- Meta will soon be able to show users NFTs on their social media accounts.
- According to our sources, the organization is also working on NFT Market.
- Meta is one of the best social media company in the world. The move to adopt NFTs technology could be a major catalyst for mass adoption.
- The organization is reportedly preparing to allow Facebook and Instagram users to view and trade NFTs.
Meta is the world’s largest social media company that oversees Facebook, Instagram and WhatsApp. The NFT advancement reported by Meta will be a major catalyst for mass adoption and may help promote the use of digital assets. Creators also provide a way to monetize your work.
