- September 29, 2022
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Meta has announced an update for its non-fungible token (NFT) features on Facebook and Instagram. Starting today, the social media platforms will allow U.S.-based users to connect their wallets and share their NFT with their friends and followers.
According to an official announcement, the update will also allow Facebook and Instagram users to make cross-post with their digital assets. In addition, the company announced:
Additionally, everyone in the 100 countries where digital collectibles are available on Instagram can now access the feature.
Meta Steps Up Their Crypto Game On Facebook and Instagram
The Mark Zuckerberg-led company has been making big investments in the crypto and metaverse sector. As the announcement shows, Meta announced their NFT capabilities for Facebook and Instagram back in May 2022.
At that time, the company praised the “incredible opportunity” that blockchain technology offers to creators. These individuals can use NFTs and other crypto-based tools to provide unique experiences, connect with their audiences, and receive a direct income from their work, without the need for third parties.
Over the past months, the company has allowed creators on Instagram to share their NFTs. The features seem to be successful and could be seen as important adoption as Meta expand it to other platforms.
In addition to its economic benefits, Meta claims creators can take the reigns of their content and come up with new ways to monetize their work. The company said:
At Meta, we’re looking at what creators are already doing across our technologies in order to improve the experience, help them create more monetization opportunities, and bring NFTs to a broader audience.
How To Connect A Crypto Wallet With Facebook And Instagram?
In order to connect to social media platforms, where the user or content creator holds their NFTs, people need to check if Facebook and Instagram support their wallets. At the time of writing, the platforms offer support for Ethereum, Polygon, and the Flow Network.
The social media platform also provides support for third-party wallets, such as the Trust Wallet, the Coinbase Wallet, the Dapper Wallet, and the MetaMask wallet. The latter is one of the most popular as it offers users a browser extension that allows them to easily connect with Facebook, Instagram, and other platforms.
As Meta has clarified, users must be logged in to their accounts to connect their wallets. Once this step is completed, they can click on settings, select the digital collectible option on the menu, and select the connect option.
The social media platforms will display a screen, asking the user for additional information, such as their wallet password. Finally, users will need to click on “Sign” to confirm access to their crypto wallets. The entire process takes a couple of minutes, each wallet can only be connected to one Instagram or Facebook account.
As seen below, the social media platforms will show extra information on the NFT, such as their authors, their description, and their native blockchain.
Instagram NFT feature. Source: Meta
At the time of writing, Ethereum (ETH) trades at $1,350 with a 2% profit in the last 24 hours.
ETH’s price moving sideways on the daily chart. Source: ETHUDSDT Tradingview
