Facebook will support NFTs with a digital collectibles tab on creators’ timelines to display their work.
A spokesperson for Meta stated that the rollout of NFTs on Facebook would be gradual, beginning with select creators in the United States. Eventually, NFT creators will be able to cross-post between Facebook and Instagram. Instagram is also testing NFTs in its Spark AR augmented reality platform.
Instagram expanded its NFT trial from the U.S. to international users last week. The application allows NFTs minted on Ethereum and Polygon to be displayed, with other NFTs from Solana and Flow planned as well.
Facebook rebranded as Meta in 2021. It has been striving to expand in Web3, but not all of its efforts have been successful. Meta gave up on its attempt to launch the Diem stablecoin after significant opposition from regulators worldwide. Nonetheless, Meta filed trademark applications for a Meta Pay payments platform and Zuckerberg announced othat Meta Pay would replace Facebook Pay.
However, a company spokesperson also stated that Meta won’t offer the ability to turn digital collectible posts into ads on Facebook and evident that Meta will not launch NFT sales there.The sale of NFTs is expected to launch on the company’s Meta Quest app store, which supplies apps and games for Meta’s metaverse.
