The digital world is transforming in ways we never imagined, and Non-Fungible Tokens (NFTs) are leading the way. Thanks to blockchain technology and NFTs, social media platforms are beginning to experience a new level of engagement. From customizable avatars to augmented reality items, NFTs are giving big tech companies new ideas. This article will explore the potential benefits of using NFTs for social media platforms and the sector’s best practices. In this context, Instagram's experiment with NFTs represents a peculiar…
Meta Unveils NFT Cross-Posting on Facebook and Instagram
In an update earlier today, global tech conglomerate Meta shared news of its latest moves surrounding digital collectibles. From September 29th, subsidiaries Facebook and Instagram will now allow users to link their virtual wallets with their accounts and also share non-fungible tokens.
Users Across 100 Countries Can Access New Meta Feature
Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries,” Meta announced in a tweet .
Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries. Creators like artist Lívia Elektra are sharing their #NFTs on our apps. https://t.co/6yV4HgfHSW https://t.co/wa2wkWgfWX pic.twitter.com/fRi0wA7a6l
— Meta Newsroom (@MetaNewsroom) September 29, 2022
The feature in question had been in the works for over 4 months. In May, Meta began testing with select creators and collectors from the US allowing them to share their NFTs on Instagram. Now, however, users across 100 nations globally will be able to cross-post their non-fungible tokens on the relevant social media platforms.
Meta extended the feature to users in Africa, Asia-Pacific, the Middle East, and the Americas early in August. The feature entails users connecting their digital wallets to their Instagram or Facebook accounts. According to the release Meta supports connections with several third-party wallets.
These include Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet.
No Fees, Users Get to Tag Creators and Collectors
After linking their wallets users will be able to select collectibles they would like to post from the wallet. Notably, Meta has integrated the following blockchain networks; Ethereum, Polygon, and Flow, and has plans for Solana as well. Hence, users can post digital collectibles minted on the aforementioned platforms.
Interestingly, once the owner of the non-fungible token makes a post, it takes on a shimmer and displays data regarding the NFT. Furthermore, the holder will be able to tag both the creator and collector of the asset in the post. Notably, this depends on their privacy settings. Also, Meta does not charge users any fees to post or share their non-fungible tokens.
Meta Seeking to Support Creators
When Meta first introduced digital collectibles to Instagram, the company explained that it was looking to aid creators. Indeed, NFTs have played a major role in helping them take control of their work. These assets have redefined the artist-audience relationship as how creators monetize.
The company noted that subsidiaries Facebook and Instagram already serve as critical tools for creators. Thus, Meta is seeking to enhance the user experience, create more earning opportunities and extend the reach of the NFT industry.
It’s critical that our early efforts in this space empower diverse voices and that underrepresented groups have access to emerging digital assets like NFTs. By building support for NFTs, we aim to improve accessibility, lower barriers to entry, and help make the NFT space more inclusive to all communities.”
In the past Twitter users raised questions concerning the safety of user data as they connected their digital wallets to Meta’s platforms. Thus, Meta has encouraged users to employ the necessary tools to keep their accounts secure. The company also suggested that they report digital collectibles that violate community guidelines.