Facebook & Instagram will allow NFTs to share on profile

Meta announced that it will allow users to showcase their NFTs digital collectible holding via their profile.

Meta is a popular social media company, which is formerly known as Facebook. In Q4 2021, Facebook rebranded its name to Meta, to show that company pushing the majority of its efforts into the advanced virtual reality-based concept based project.

On 29 August, Meta announced that it will allow users to showcase their NFTs on profile status by this week. As a part of this announcement, only a particular number of Instagram & Facebook users will be allowed to use this feature.

Earlier this, Meta announced that it will allow content creators and businesses from Africa, the Asia-Pacific region, the Middle East, and the Americas to show NFTs on Instagram profiles. 

For the first time, Meta announced its NFTs support, via a public blockchain network-enabled verification for the users, in May 2022. 

At that time company said:

“It’s critical that our early efforts in this space empower diverse voices and that underrepresented groups have access to emerging digital assets like NFTs.”

Announced also read that the company aims to lower the entry barrier of the NFTs sector for non-crypto users. In the second quarter revenue report, the company confirmed that it lost around $5.7 billion as a part of the Metaverse building. The company said This is a very expensive undertaking over the next several years.

At that time the company said that Meta aimed to contribute to the Metaverse to make the entertainment & communication system between people different & unique to provide a better user experience. 

It is interesting to note that Ethereum co-founder Vitalik Buterin said that Metaverse doesn’t know what people want in Metaverse and maybe the company may not make useful Metaverse.

Read also: Dubai’ VARA issues crypto advertisement guidelines