Wednesday, May 11, 2022

NFT's Coming to Instagram and Facebook


In a Facebook video published on Monday, Mark Zuckerberg announced that Meta has begun testing NFT's on Instagram and that they will soon also be available on Facebook.  Eventually, the feature will include "augmented reality" (3D) NFT's created through the use of Spark AR

Yesterday, Meta issued a news release that elaborates on Zuckerberg's brief video.  Stating that testing has begun with "a handful of U.S. creators and collectors who will be able to share NFTs on Instagram that they have created or bought,"  the release promised that more general availability will be coming soon.  This new NFT feature will allow users to connect to a digital wallet, share digital collectibles, and automatically tag both the creator and the collector.  The release goes on to identify the blockchains that will be supported by Meta as well as compatible third-party wallets.  Finally, the release stated that "there will be no fees associated with posting or sharing a digital collectible on Instagram."

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