Meta Begins Testing NFTs on Instagram and Facebook This Week – ARTnews.com

Meta began testing new NFT features on Instagram and Facebook this week with select users in the US, the company announced on Monday.

Testers can connect their digital wallets to Instagram and/or Facebook, post their verified NFTs and tag creators and collectors. Meta has not used the language “NFTs” in posts or statements about the new move, instead referring to “digital collectibles”.

So far Ethereum and Polygon are the only blockchains supported, but Meta has said I plan to include Solana and Flow later. The feature supports third-party wallets from Rainbow, MetaMask and Trust Wallet, with wallets from Coinbase, Dapper and Phantom to be rolled out later.

Digital collection posts come with certain features: The post will have a shimmer effect, a tick mark and may, but need not, display public information about the NFT.

“It is critical that our early efforts in this space empower diverse voices and that underrepresented groups have access to new digital assets like NFTs,” the Meta announcement said.

Consequently, many of the early testers are black. Some of the testers include actor/singer Jaden Smith, venture capitalist Gary Vaynerchuck, artist Jen Stark, actress Cynthia Erivo, influencer Michael Le and several NFT projects, such as Adam’s Bomb Squad, Boss Beauties and Oseon World.

In the announcement, Meta also addressed social and environmental concerns and assured that users could report digital collection records that violate the Community Guidelines.

“Additionally, we understand that blockchain technology and NFTs raise important issues of sustainability,” the announcement said. “Meta will help reduce the emissions impact that may be associated with displaying digital collectibles on Instagram by purchasing renewable energy.”

The announcement did not mention a concurrent effort for Facebook’s counterparty initiative.

The movement to test NFTs is significant. So far, the majority of the NFT community gathers on Twitter, which has rolled out some NFT compatibility features. These features have yet to gain mainstream appeal.

Meta’s digital collectibles may be intended to draw that community to their platforms. However, it raises the question of whether major Web 2.0 platforms will simply absorb the monetization capabilities of Web 3.0 and blockchain technology and take the wind out of the vision of a decentralized internet.