Now you can post NFTs on both Facebook and Instagram

Now you can post NFTs on both Facebook and Instagram

On Monday, August 29, Meta announced that Facebook and Instagram users will be able to start posting their NFTs on both platforms. Non-fungible tokens are certificates that attest to the authenticity of assets or works - usually digital - based on blockchain technology, which prevents their replicability, or "fungilability". Owning an NFT is essentially equivalent to having a document that proves the ownership of an autographed copy of a book or of the first version of a famous painting: not surprisingly, these digital certificates initially spread in the art market.

The trading of non-fungible tokens is one of the businesses on which the metaverse project is based, on which Meta and its CEO Mark Zuckerberg are aiming for the evolution of the company.

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To post your Nft on Meta platforms you need to connect your profiles to digital wallets. The feature, called Digital Collectibles, was initially introduced in May 2022 exclusively for Instagram and in collaboration with select US creators. In the following months Meta expanded the project to other markets and to more and more people, which at the beginning of August became available in over 100 countries.

Yesterday's announcement represents a further evolution compared to the previous steps. Meta's plan is to open up to all the main blockchains and give the creators of the crypto world the opportunity to exhibit their creations and collections on mainstream platforms. A few months ago Adam Mosseri, number one of Instagram, also said he was ready to consider the idea of ​​introducing a subscription program (similar to that of Patreon) for influencers, which would also allow, among other things, to sell NFT.

Similarly to the cryptocurrency market, whose collapse does not seem close to the end, the NFTs are also not going through a rosy period: in July, sales reached the lowest point of the last twelve months. Fortune reported that one of NFT's largest matrketplaces, OpenSea, saw its transaction value drop by ninety-nine percent. However, market indications do not seem to stop Meta and its expansion project in the blockchain world. Whether the company's bet will prove successful remains to be seen.