Meta introduces the digital collective feature on Facebook and Instagram.
Meta has in the past said that they intend to expand its platform to include support for NFTs and has even disclosed these plans.
By linking their digital wallets to their accounts, users of both Instagram and Facebook can now post non-fungible tokens, also known as NFTs, and digital collectibles to their profiles.
Users are able to upload digital collectibles minted on Flow, Polygon, and Ethereum by connecting their wallets such as Dapper Wallet, Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow.
Meta recently shared the news in a Twitter post:
We’re introducing the ability to post digital collectibles across @facebook and @instagram. You can now connect your digital wallet to either app to share your #NFTs on both.
— Meta Newsroom (@MetaNewsroom) August 29, 2022
What NFT are you excited to share? 👀https://t.co/wa2wkWfI7p pic.twitter.com/SlpwAuY02c
Meta's NFT Support for Facebook and Instagram
Meta said in their blog post, "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."
This news follows the announcement that Meta started expanding internationally, serving 100 countries in America, the Middle East, Asia-Pacific, and Africa.
Despite the fact that the market for digital tokens has been slowing down over the past few months, Meta is moving deeper into the territory of non-fungible tokens.
On August 4, the company began supporting wallet connections with the Dapper and Coinbase Wallet, in addition to the ability to post digital collectibles that were minted on the Flow blockchain.
These efforts have been anticipated for a reasonable amount of time at this point. This functionality was made available for the first time by Meta back in May, but only to a limited number of creatives.
The creators and collectors who had been chosen to participate were the first to post their digital collectibles on Instagram.
They were able to capitalize on new tools to generate revenue, and fans can show their support for their favorite content creators by purchasing digital collectibles. These collectibles, or non-fungible tokens (NFTs), can be in different forms. They can be videos, art, music, images, or trading cards.
Creators are making use of innovative technologies such as NFTs to gain a greater degree of control over their work, their connection with their fans, and the ways in which they can monetize their creations.
Meta's Further Plans in NFT
Meta's Facebook and Instagram accounts can start posting their NFTs simply by linking their digital wallet to their social media accounts. When it comes to posting or sharing a digital collectible on Instagram, users can do so freely without having to worry about any fees.
Flow, Polygon, and Ethereum are the supported blockchains that are currently among the blockchains that can be used with this service.
The company's plan is to support all major blockchains and wallets so more crypto-native people can display digital art on a mainstream platform.
Meta is working toward its goal of appealing to a more diverse user base by introducing new features that will enable users to showcase their digital collectibles within posts.
According to TechCrunch, numerous speculators are also suggesting that Meta might possibly be working on custom animations for NFT posts and digital collectible collections aside from just supporting users to post their NFTs on the platform.
Additionally, the Meta CEO, Mark Zuckerberg, has also noted that Meta will be working on displaying NFTs through Instagram Stories and making them compatible with Spark AR as well.
