Facebook and Instagram now support NFTs

Non-fungible tokens or NFTs became immensely popular last year. With people minting NFTs and many purchasing digital art for tons of money, the entire world witnessed the evolution of NFTs. Such tokens have become so popular that large social media platforms have adopted the technology that allows users to showcase their possessions on their social media profiles.

Facebook and Instagram now support NFTs
On August 29, Meta announced an update to the Digital Collectibles features announced earlier this year. Now, the feature is available on Facebook and Instagram, where users can post their NFTs on these platforms. The posts on both platforms will look like ordinary posts, but they would show a badge saying “digital collectible.”

The feature was originally released in May
Back in May, Meta announced support for NFTs on Instagram. The platform conducted a test of a new feature called Digital Collectibles with “a handful of U.S. creators and collectors” who could share NFTs on Instagram that they created or bought. The feature included connecting an Instagram account to a digital wallet, sharing digital collectibles, and automatic tagging of both the creator and the collector.

Earlier this month, the platform expanded the feature to more regions
Earlier this month, Meta announced an update for the Digital Collectibles feature, expanding the feature to over 100 countries in Africa, Asia-Pacific, the Middle East and the Americas. Further, the platform also announced wallet connections with Coinbase Wallet and Dapper. The supported blockchains at the time included Ethereum, Polygon and Flow. To post their collectibles, users were asked to connect their digital wallets to Instagram.

Other platforms are also adopting NFTs
Last month, we also heard about Snapchat’s plans for foraying into NFTs. According to a report by Tech Crunch citing Financial Times, Snapchat will start experimenting with the feature from the month of August. Essentially, the feature allows users to convert NFTs and import them as Lenses on Snapchat. As mentioned earlier, the feature will be tested next month. The company will work with a limited number of creators, allowing them to create NFTs, mint them on another platform and then convert them into Snapchat Lenses. Republic World