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Meta has released an upgrade to its Facebook and Instagram non-fungible token (NFT) features. U.S.-based users can connect their wallets and share their NFT with their friends and followers on social networking channels.
The upgrade also enables Facebook and Instagram users to cross-post their digital assets, per official notice. Furthermore, the business announced:
Additionally, the functionality is now accessible to everyone in the 100 countries where digital collectibles are available on Instagram.
You can now post digital collectibles on @Facebook and @Instagram ✨ Connect your digital wallet to either app and start sharing your #NFTs today.
Learn more 👉 https://t.co/aH8036aVwX pic.twitter.com/0AuZWHUFsy
— Meta (@Meta) August 29, 2022
The corporation led by Mark Zuckerberg has made substantial investments in the crypto and metaverse industries. According to the announcement, meta disclosed its NFT capabilities for Facebook and Instagram in May 2022.
At the time, Meta praised the unique opportunity blockchain technology brings to creators. Without intermediaries, these individuals can use NFTs and other crypto-based technologies to deliver exceptional experiences, interact with the audience, and earn a direct income from their work.
Over the past few months, Meta has let Instagram users post NFTs. The features seem compelling and might be considered significant when the company expands the technology to further platforms.
Meta asserts that, besides its economic rewards, producers can take control of their material and devise new ways to monetise their work. The firm stated:
“At Meta, we’re looking at what creators are already doing across our technologies in order to improve the experience, help them create more monetisation opportunities, and bring NFTs to a broader audience.”
Individuals must determine if Facebook and Instagram support their wallets to connect to social media sites where the user or content producer owns NFTs. The platforms currently support Ethereum, Polygon, and the Flow Network.
The social networking platform also supports third-party wallets, including the Trust Wallet, Dapper Wallet, MetaMask wallet and Coinbase Wallet. The MetaMask wallet is the most popular since it allows users to connect with Facebook, Instagram, and other networks using a browser extension.
According to Meta, users must be logged onto their accounts to connect their wallets. After completing this step, the user clicks on settings, chooses the digital collectible option from the drop-down box, and clicks the connect button.
The social media networks will display a screen requesting further information, such as the user’s password for their digital wallet. Users must click “Sign” to confirm access to their cryptocurrency wallets. Each wallet can only be linked to a single Instagram or Facebook account, and the entire procedure takes a few minutes.
As seen below, social media platforms will display additional information on NFTs, including their authors, descriptions, and native blockchains.
Ethereum (ETH) is trading at $1,350 at the time of writing, a 2% increase in the previous 24 hours.ETH’s price moved sideways on the daily chart. Source: ETHUDSDT Tradingview
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