Social media giant Meta announced on Monday that Facebook has also started to allow users to post NFTs, following the social media giant’s plan that started with Instagram earlier this month with tests by creators of contents. At the time, the company said it would expand the service to more than 100 countries, without saying when it would be available to all users.
The new feature, says Meta, allows users to connect a cryptocurrency wallet to prove ownership of their NFT and choose which ones they want to display, then show both the owner and the original creator along with the asset.
“We started giving people the ability to post digital collectibles they own on Facebook and Instagram. This will allow them to connect their digital wallets to any app to share on both. [redes sociais] your collectibles,” the company said in an update to a May post this year.
At the time, the company said that to post a digital collectible on Instagram, a user simply connected their cryptocurrency wallet with the platform, without having to pay anything for the publication: “There are no fees associated with posting or sharing a digital collectible.”
While there are several cryptocurrency wallets, Meta pointed to some of the most popular services, such as MetaMask and Trust Wallet, and warned that supported blockchains for now only include those from Ethereum, Polygon and Flow.
The user’s wallet can be automatically recognized if cross-posting is enabled in the account settings in any app, as with Instagram stories, which can be cross-posted on Facebook, explains Decrypt.
We’re introducing the ability to post digital collectibles across @facebook and @instagram. You can now connect your digital wallet to either app to share your #NFTs on both.
What NFT are you excited to share? 👀https://t.co/wa2wkWfI7p pic.twitter.com/SlpwAuY02c
— Meta Newsroom (@MetaNewsroom) August 29, 2022
NFT Market
An NFT (Non-Fungible Token) is a blockchain-powered token that acts as a contract of ownership of an item, including digital goods such as photos and artwork.
The NFT market became popular in 2021, with a trading volume of US$ 25 billion. Sports stars and music celebrities shelled out millions of dollars to be the sole owner of a digital work; others preferred to launch their own collections.
Football star Neymar Jr., for example, came to believe in the NFT market earlier this year, when he bought two Bored Apes for around BRL 6.2 million — one for 198.69 ETH (BRL 3.4 million). , another for 159.99 ETH (R$ 2.7 million).
It is worth remembering that Bored Apes are the favorites of celebrities. The hype that built up around the project sent prices soaring at the beginning of the year, so having one of the 10,000 unique digital artworks in the collection was a sign of ostentation.
The investment, however, is big risk. The Brazilian player’s tokens are currently worth R$2.7 million, or about US$548,000 at Monday’s price (29).
Learn how to make money with Crypto. You can access an exclusive course from the top crypto experts to learn the fundamentals and techniques that help you navigate the ups and downs of the market. Secure your spot here!
