“As we continue rolling out digital collectibles on Facebook and Instagram, we’ve started giving people the ability to post digital collectibles that they own across both Facebook and Instagram. This will enable people to connect their digital wallets once to either app to share their digital collectibles across both,” as per the blog post of the company. The Company has already been on trials with NFTs since May. Here is a quick sneak peek at Meta’s digital collectible experiments: March 2022: Mark Zuckerberg announced “NFTs are coming to Instagram soon” May 2022: Instagram started testing NFTs with selected creators. June 2022: Zuckerberg added more people to that trial and announced “NFTs are coming to Facebook soon” June 2022: Facebook started exhibiting digital collectibles in association with defined U.S-based creators. July 2022: Meta initiated NFT support on Instagram in 100 countries. Yesterday’s test was just an addition to these steps. However, it is still not clear if NFT posting is available in every market or not. At the beginning of the year, Zuckerberg stated that Meta will enable NFT display through Instagram stories and will make them AR-compatible as well. According to some app detectives, Meta is probably working on creating custom animations for digital collectible collections and NFT posts. Unlike Reddit and Twitter, Meta is focused on reaching a wider audience using a feature that will enable users to post their digital collectibles. The company aspires to connect to all major wallets and blockchains so that more digital art gets displayed on the mainstream platform. Consequently, just like other posts, crypto-interested people can explore NFT posts through social media platforms. Creators were already posting their NFT products on Instagram long before Meta started supporting them. So the company has just added a long-term way to support creators from their platform. In May, Instagram chief Adam Mosseri stated that “the company is exploring digital collectible sales so creators can have another avenue of making money.” The company also wishes to create a marketplace for digital art, where item purchasing is possible in the metaverse.
