Facebook, Instagram users in the US can now share Ethereum, Flow and Polygon NFTs

Facebook, Instagram users in the US can now share Ethereum, Flow and Polygon NFTs

In short

  • Meta has launched NFT support for collectibles for all Facebook and Instagram users in the US.
  • Instagram first added NFT support in May, and Facebook followed suit in June.

Continues his recent rolloutTech giant Meta announced today that its NFT support for collectibles is now available to all Facebook and Instagram users within the United States.

Meta first started enabling NFT support on its platforms May with Instagramand then added Facebook support in June. In both cases, the company started with a limited number of users, but has gradually expanded the pool over time.

Now anyone in the US can show off their NFTs, joining users in around 100 other countries in Asia-Pacific, Africa, the Middle East and the Americas.

The feature currently supports collectibles from Ethereum, Flowand Polygon blockchains, with Solana support is also on the horizon. Facebook and Instagram support wallet connections MetaMaskDapper Wallet, Coinbase Wallet, Rainbow, and TrustWallet. The feature is available from the “digital collectibles” tab in the settings of both mobile apps.

In August, the company announced a cross post function which allows users to showcase NFT collectibles across their Facebook and Instagram accounts. According to Meta, the feature demonstrated the “interoperability” of NFT resources that can be connected to different platforms.

An NFT is a blockchain token that represents ownership in a unique digital object. Some of the popular use cases include digital artwork and collectibles, as well as interactive video game items. The NFT market gave something $25 billion in trade volume during 2021.

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This momentum continued rapidly into the early months of 2022, but the NFT market has lost significant steam since major crash in the crypto market started in May. Overall sales volume is down significantly, while prices for many of the best NFT collections have fell dramatically.

Still, that hasn’t completely stopped significant sales — just yesterday, artist Tyler Hobbs sold nearly $17 million worth of newly minted NFTswhile a single CryptoPunks NFT sold for nearly $4.5 million value of ETH.

Meta’s NFT push comes among broader ones metaverse referring to the social media giant, which revealed his vision for the future, immersive internet last fall. While NFTs will play a role in Meta’s metaverse, it remains unclear how open its future platform will be — and whether it will be interoperable with other metaverse worlds and games.

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