Facebook, Instagram Users May Soon Cross-Post NFTs as Meta Continues Web3 Expansion

The release of this NFT-centric feature on Facebook is going to be gradual and will start being available for select creators based in the US.

By Radhika Parashar | Updated: 1 July 2022 15:00 IST

Photo Credit: Reuters

Supported on blockchain networks, NFTs are digital assets inspired by people, art, and games

Highlights

Latest development was announced by Meta’s Navdeep Singh
Along with Facebook, Instagram is also testing NFT-supporting features
Last week Meta launched its digital wallet service ‘Meta Pay’

Facebook is getting a new ‘digital collectibles' tab where creators will be able to showcase their non-fungible tokens (NFTs). The release of this NFT-centric feature on Facebook is going to be gradual and will start being available for select creators based in the US. Last month, Instagram had also said that it had begun testing NFT-displaying feature. Once the option is activated widely for both of the Meta-owned social networking apps, creators will be able to cross-post their work on the Facebook app, as well as the Instagram app thus reaching more potential buyers.

Navdeep Singh, the technical programme manager at Meta, announced the development on Twitter.

We're launching NFTs on Facebook! Excited to share what I've been working on with the world. pic.twitter.com/TaV66zRanV
— Navdeep Singh (@navdeep_ua) June 29, 2022

Supported on blockchain networks, NFTs are digital assets inspired by a wide array of things including people, pictures, food items, cartoons, and even game characters.

In May, Instagram said it will soon begin supporting NFTs built on four blockchains — Ethereum, Polygon, Solana, and Flow.

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This year, Meta chief Mark Zuckerberg has spoken multiple times about integrating NFT-focussed services to the social networking apps under its control.

Without getting into elaborate details, the tech mogul, in March, had said that Instagram users will "hopefully" get to mint their own NFTs on the app in the months to come.

As for now, Meta-owned WhatsApp has not made it to its list of apps that are lined-up for an NFT twist. With Meta marching towards expanding its Web3 offerings, it will not be long before NFT-related updates are released on the instant messaging app.

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The company has been looking for ways to increase interoperability between its apps.

Last week, Meta launched its own wallet service as a universal payment mode that could be used in physical as well as the virtual world of the metaverse.

The name of this wallet service is Meta Pay, which is essentially an evolution of Facebook Pay. Using Meta Pay will open accessibility to a wider array of digital goods on different metaverse-supporting platforms.

Betting large on the metaverse, Mark Zuckerberg rebranded his social networking mammoth from Facebook to Meta in October last year.

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Further reading: Meta, Instagram, Facebook, Non Fungible Tokens, NFTs, Cryptocurrencies

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More