03/10/2022 Facebook, Instagram Users in US Can Now Share Ethereum, Flow and Polygon NFTs

Meta is letting all U.S. users connect a crypto wallet and display owned NFTs on either social app.

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Continuing itsrecent rollout, tech giant Meta announced today that itsNFTcollectables support is nowavailable to all Facebook and Instagram userswithin the United States.

Meta first began enabling NFT support on its platformsin May with Instagram, and thenadded Facebook support in June. In both cases, the firm started with a limited number of users, but has gradually expanded the pool over time.

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Now anyone in the U.S. can showcase their NFTs, joining users in some 100 other countries across Asia-Pacific, Africa, the Middle East, and Americas.

The feature currently supports collectibles from theEthereum,Flow, andPolygonblockchains, withSolanasupport also on the horizon. Facebook and Instagram support wallet connectionsMetaMask, Dapper Wallet, Coinbase Wallet,Rainbow, and TrustWallet. The feature is available from the “digital collectibles” tab in settings in both mobile apps.

In August, the company announceda cross-posting featurethat lets users show off NFT collectibles across their Facebook and Instagram accounts. According to Meta, the feature showcased the “interoperability” of NFT assets that can plug into various platforms.

An NFT is a blockchain token that represents ownership in a unique digital item. Some of the popular use cases include digital artwork and collectibles, as well as interactive video games items. The NFT market yielded some$25 billion in trading volumeover the course of 2021.

That momentum continued apace into the early months of 2022, but the NFT market has lost considerable steam since thewider crypto market crashbegan in May. Overall sales volume is down significantly, while prices for many of the top NFT collections havefallen dramatically.

Even so, that hasn’t entirely stopped significant sales—just yesterday, artist Tyler Hobbssold nearly $17 million worth of newly-minted NFTs, while a singleCryptoPunksNFTsold for almost $4.5 millionworth of ETH.

Meta’s NFT push comes amid broadermetaverseaims for the social media giant, whichrevealed its vision for the future, immersive internetlast fall. While NFTs will play a role in Meta’s metaverse, it’s still unclear just how open its future platform will be—and whether it will be interoperable with other metaverse worlds and games.

Arts

https://decrypt.co/110901/facebook-instagram-ethereum-flow-polygon-nfts?amp=1

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