Meta extends NFT integration to Facebook
Important takeaways
- Meta expands its NFT integration plans to Facebook.
- While the announcement was short on details, it is likely that Facebook will integrate with the same blockchains and wallets as Instagram.
- This is the latest move on Meta’s part to integrate into Web3 and develop its own Metaverse.
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According to a new statement from Meta, Facebook users can now connect their crypto wallets to the platform and share their NFTs.
NFTs on Facebook
Meta is moving forward with its NFT plans.
The social media giant tired today that Facebook users will now be able to connect to digital wallets to share their NFTs on the platform. Meta had previously declared that it would expand its Instagram NFT integration pilot to 100 countries in Africa, Asia-Pacific, the Middle East and both North and South America.
While today’s announcement did not clarify which blockchains and wallets would be supported, Facebook’s NFT integration will likely be the same as Instagram’s. If this is the case, it would mean that Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet could all be connected, with accepted blockchains limited to Ethereum, Polygon and Flow.
Meta did not indicate whether the Facebook integration would be a pilot program or whether it would have the same reach as the Instagram program. It also did not mention whether Europe would be added to the list of supported continents and whether other major NFT blockchains, such as Solana, were slated for integration. While the statement also didn’t mention any fee structures, it seems unlikely that any will be introduced if the Instagram NFT program is any indication.
Formerly known as Facebook, Meta declared that it would develop its own Metaverse when it rebranded changed to its new name in October last year. The move has been met with skepticism from the crypto community, with Ethereum creator Vitalik Buterin claim that Meta’s plans would “misfire” as “it is far too early to know what people actually want [from a metaverse].”
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.
