Meta Increases NFT Integration With Facebook

Meta Increases NFT Integration With Facebook

Facebook users can now connect their cryptocurrency wallets to the site and share their NFTs, according to a new statement that was released by Meta.

Facebook’s version of NFTs

The ambitions that Meta has for the NFT are moving forward.

The world’s largest social networking site said today that users will soon be able to link their digital wallets to Facebook in order to distribute their NFTs on the platform. Previous statements made by Meta indicated that the company intended to carry out its plan to expand its Instagram NFT integration trial to a total of one hundred countries across the continents of Africa, Asia-Pacific, the Middle East, and both North and South America.

Even though the announcement made today did not specify which blockchains and wallets will be supported, it is quite likely that the NFT integration on Facebook will be the same as the one on Instagram. If this is the case, then it would mean that Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet could all communicate with one another, and the only blockchains that would be accepted would be Ethereum, Polygon, and Flow.

There was no indication from Meta regarding whether or not the Facebook integration would be a pilot operation or whether or not it would have the same reach as the Instagram campaign. It also did not say whether Europe will be added to the list of supported continents or whether other large NFT blockchains, such as Solana, were planned for integration. Neither of these points were addressed in the article. In spite of the fact that the announcement did not make any mention of cost structures, it is highly unlikely that any will be implemented in the future if the Instagram NFT program serves as any indicator.

When it changed its name to Meta in October of last year, the company, which was formerly known as Facebook, announced that it intended to create its very own metaverse. The proposal has been met with suspicion from the cryptocurrency industry, with Ethereum’s creator Vitalik Buterin suggesting that Meta’s plans would “misfire” due to the fact that “it’s simply too early to know what people genuinely want [from a metaverse].” Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. The information that is displayed on or accessed through this website is obtained from independent sources that we believe to be accurate and reliable; however, Decentral Media, Inc. makes no such representation or warranty. The company known as Decentral Media, Inc. is not a financial advisor. We do not offer individualized financial advice in the form of investment advice or any other type of financial advice. The information provided on this website may be updated at any time without prior notification. There is a possibility that some or all of the information presented on this page will become out of date, or that it will already be incomplete or wrong. Any information that is out of date, missing information, or wrong may be updated by us, but we are not bound to do so.

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