Connect with us

News

Facebook Tests Ethereum and Polygon NFTs on User profiles

Published

on

  • Facebook has begun to roll out NFTs to several US creators on its social media network.
  • Will progress to Solana and Flow but will begin with Ethereum and Polygon NFTs.


Facebook has reportedly begun rolling out NFTs for its users, particularly for some U.S. creators on its social media network.

The company is starting out with NFTs on Ethereum and Polygon NFTs, but will soon include support for NFTs on Solana and Flow, according to an address from a Meta representative.

This exercise will pave the way for users to connect their Facebook profiles to their cryptocurrency wallets.

Navdeep Singh, a product manager at Meta (Facebook), shared a sneak preview of what NFTs will look like on Facebook in a Twitter post.


According to the post, users’ Facebook profiles will include a “digital collectables” feature where they can display their NFTs.

NFTs are non-fungible blockchain tokens that represent ownership, as opposed to fungible crypto tokens.

Users who have enabled this feature can link their cryptocurrency wallets to their Facebook profiles. They’ll also be able to use their NFTs to make Facebook posts, which like other posts, can be interacted with, liked, commented on, and shared.


Martin Bryant, a technology and media consultant, stated that Meta “clearly wants to give a home to Web3 users.” He went on to say that the announcement is likely to provide Facebook users with an in-app experience similar to Discord, as the company is also testing modifications to Facebook Groups to make them appear similarly to how Discord operates.

Read Also

Instagram set to support NFTs powered by Polygon

Paris Saint-Germain (PSG) Partners with Asian Artist to Launch “Tiger Champs” NFT Collection

MoonPay launches NFT platform with Fox Corporation and Universal Pictures



According to a Meta representative, the NFT user profile testing began in May for some creators in a few countries on Instagram.

An earlier announcement stated that collectors will be able to share their NFTs as virtual reality stickers, and the NFTs posted or shared on the Instagram app will instantly tag both the NFT creator and the collector. Posting or sharing NFTs will not be charged by the company.

Instagram Exec, Adam Mosseri previously stated that the company will partially launch NFT features as its creator economy continues to grow exponentially.

He also stated that NFTs are an intriguing opportunity that will most likely serve a subset of creators. This would allow creatures to own unique digital items.

While Meta works hard to create an immersive user experience with NFTs, a date for when the NFT features will be available to all users is yet to be announced.

What do you think about this article? Share your comments below.

Latest Episode on Inside Blockchain

Crypto News Update

Crypto Street

Advertisement



Trending

ALL Sections

Recent Posts