Soon, the Solana blockchain will also be added, resulting in the implementation of the Phantom wallet.Â
Among the most interesting features is the ability to automatically tag the creator and owner of the NFT. This, of course, if the user’s privacy settings allow it.Â
Certainly, there will be rare cases when the creator will not allow it, as it is their right not to do so.Â
In addition, Meta has decided not to impose any additional fees on Non-Fungible Token sharing activities.
This choice represents an important turning point because it reduces the barriers to entry and facilitates access to this new world, especially for less experienced users.Â
Just yesterday, Meta updated its post regarding this new initiative, reporting:
“As we continue rolling out digital collectibles on Facebook and Instagram, we’ve started giving people the ability to post digital collectibles that they own across both Facebook and Instagram. This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both.”
Share your NFTs on Facebook and Instagram
Initial testing and Meta’s continued expansion into the NFT market
Initially, this feature was enabled only for a select and small number of U.S. creators and collectors. The goal, as with all new projects, was to conduct the necessary testing before opening the doors to the entire market.Â
For those curious to see it all in action, among the chosen profiles are @adambombsquad, @bluethegreat, @bossbeautiesnft, @c.syresmith, @cynthiaerivo, @garyvee, @jenstark, @justmaiko, @maliha_z_art, @misshattan, @nopattern, @oseanworld, @paigebueckers, @phiawilson, @swopes, and @yungjake.Â
Among them, @maliha_z_art expresses pleasure at being selected as one of the test accounts:
“I feel excited to be able to share my NFT journey with the community I’ve been cultivating on IG for over ten years! I love how this new feature will let collectors trace the art back to the artist and be a part of the community that they have been building on IG for so long. I also love how it bridges my traditional art community and the Women Rise NFT community.”
The NFT tests carried out on Instagram
On August 4, however, the internationalexpansion to 100 countries, covering almost the entire globe, began. The areas chosen, in fact, are Africa, the Middle East, Asia-Pacific, Canada, the United States, and South America.Â
Social networks accelerate the expansion of the NFT industry
Meta, considering both Instagram and Facebook, boasts of more than 3 billion users. This means that, potentially, this new implementation could bring the NFT industry to mass adoption sooner than previously thought.Â
Moreover, it is no coincidence that Meta decided to launch this new feature, given the path it has taken in expanding into the metaverse and the world of digital assets.Â
Major competitors, however, have not hesitated a second to make the same choice. Indeed, some are even further ahead in testing, and all are trying to outrun the others to secure a large market share in this fast-growing sector.Â
Twitter, for some months already, has introduced the possibility of using one’s NFT as a profile picture.Â
Reddit, on the other hand, has even created a special portal, called “Reddit Avatar Builder,” where users can create an avatar and mint it, eventually, in NFT format.Â
Suffice it to say that the first four digital avatars they created, belonging to the “CryptoSnoos” collection, were sold for a record $1,627,500.
Finally, the world’s most popular social forum has launched a marketplace of NFT avatars on the Polygon blockchain, which, as in the case of Twitter, can be used as profile images.Â
The latest news at Horizon
Vivek Sharma, vice president of Meta’s virtual reality platform, the main gateway to the metaverse, is leaving the project for a new opportunity.Â
Sharma was in charge of developing the persistent and immersive virtual environment, accessible primarily through the company’s Oculus devices. The farewell comes after harsh criticism in recent days of the graphical quality of Horizon’s world.
Eliano has a bachelor's degree in Economics and Business Administration and is about to complete his master's studies in Finance at the University of Trento (UNITN).
He got hooked on the crypto and blockchain world during the summer of 2017 and has not left it since then. He currently works as editor & SEO specialist at Cryptonomist, writes articles and invests, both in Blue Chip and early stage assets.
Furthermore, he is working on his latest thesis project entitled: "A Study on crypto market Sentiment Analysis through Machine Learning algorithms in python."
