July 27, 2022
By Anjali Kochhar
Meta, formerly known as Facebook, is starting with Ethereum and Polygon NFTs but will soon add support for NFTs (non-fungible tokens) on Solana and Flow, as a part of the program under which it has been rolling out NFTs for some U.S. creators on its flagship social network, according to a Decrypt report.
Taking to Twitter, Meta Product Manager Navdeep said that users will have “digital collectables” tab on their Facebook profiles where they can showcase their NFTs, which are unique blockchain tokens that signify ownership.
Users will be able to connect their crypto wallets to their Facebook profiles. They will also be able to turn their NFTs into Facebook posts, which can be reacted to, liked, commented on, and shared just like any other post.
In May, the social media giant previously began rolling out NFTs on Instagram for some creators “in a handful of countries.”
In an earlier announcement, Instagram shared that NFTs posted or shared on the app will automatically tag both the NFT’s creator and collector, and the company won’t charge any fees for posting or sharing NFTs. Collectors will also be able to share their NFTs as augmented reality stickers.
Adam Mosseri, Head of Instagram, previously said that Instagram is launching NFT features in part because of the growing creator economy.
“Now, we think one really interesting opportunity for a subset of creators is NFTs—the idea of owning a unique digital item,” Mosseri said in May.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.