Meta announced today that it will allow users to post their NFTs on Instagram and Facebook from one digital wallet linked to both social networks.
Facebook and Instagram parent company Meta seems intent on making the idea of the “metaverse” a thing and has been doubling down on NFTs along with that goal. The company previously announced integration with NFTs and digital wallets and already allowed posting NFTs on Instagram, but today’s latest update will allow sharing across both it and Facebook.
The NFT posts will feature “a shimmer effect and can display public information, such as a description.”
Meta’s NFT efforts over the last few months have seen expansion to 100 countries and include support for wallets on Ethereum, Polygon, and Flow, with additional third-party support reportedly on the way.
This initiative was launched in May just prior to the NFT crash of June. Although Mark Zuckerberg, Meta CEO, did reveal the plans back at SXSW in March. This was an event that was only for Instagram. However, Meta has not been scared by the cryptocurrency downturn. And it’s far from the only company to invest resources into NFTs specifically. In January, Twitter added support for NFTs as well. In that case, users could use the tokens as profile pictures.
While the NFT and blockchain markets may have taken a hit, the same is true for Meta, which has had a cruel summer of money-losing divisions, executive shake-ups, and slowed hiring — so maybe it’s actually the perfect pairing.
“Creators today are using non-fungible tokens (NFTs) to take more control over their work, their relationship with their communities, and how they can monetize,” Meta says in a blog post explaining NFTs.
“And in the future, we think NFTs will be critical for how people will buy, use and share virtual objects and experiences. We recently announced a way for people to showcase NFTs with digital collectibles, just one of the new technologies we’re exploring as we build for the metaverse.”
Maybe building the metaverse will result in people flocking to the digital platform, at the very least to gawk at Zuckerberg’s latest virtual blunder.