Meta has just declared that Facebook, as well as Instagram users in the United States, are now able to connect their crypto wallets in order to share their digital relics on the platform.
Moreover, these Facebook and Instagram users can further make cross-post their digital collectibles over both social media platforms Facebook and Instagram.
Previously, Meta’s specific influences and creators were able to use this feature on the platform however, now users can also use it. Users are going to be able to select which NFTs they intend to share on Facebook or Instagram after connecting their wallet to the platform.
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According to Meta’s blog post published on May 10,
“Once a creator or collector posts a digital collectible, it will have a shimmer effect and can display public information, such as a description of the NFT. Posts will also be visible on their profile.”
Furthermore, both Instagram and Facebook automatically going to tag the creator as well as the collector of the NFT, relying on their privacy settings.
Instagram chief Adam Mosseri stated during a Q&A posted on the platform in December 2021 that it was “actively exploring” NFTs.
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Mosseri further added at the time,
“Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a broader audience.”
Apart from that, earlier to this the FT had further noted that teams for Facebook as well as Instagram are functioning on “readying” a marketplace feature that is going to permit its users to make and sell NFTs.
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This more recent feature of Meta comes just as the worldwide NFT market is suffering a considerable fall. As per a report by DappRadar, the market trading volume of NFT has dropped by 75 percent which is $2 billion in the third quarter of the current year, in contrast to the last quarter. In the same way, the top 100 NFT projects on Ethereum further experienced a joint 44 percent fall in value.
