Meta, Facebook and Instagram’s parent company, announced yesterday that it has officially allowed users to add digital wallets and virtual assets to the two social media platforms. This move will make it easier for roughly 2.9 billion users to easily access NFTs.
“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,” said Meta. “This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both.”
Expanding the reach of NFTs into smartphones with one of Meta’s apps installed could result in additional earnings or adoption for the social media giant. In May, Meta also filed applications with the United States Patent and Trademark Office for its namesake to be used in a crypto payments platform called Meta Pay.
Meta currently supports Ethereum, Polygon, and Flow NFT on both Facebook and Instagram. Users can connect MetaMask, Rainbow, Trust Wallet, Coinbase Wallet and Dapper wallets to verify and share NFTs.
Despite being criticized by Vitalik Buterin, CEO Mark Zuckerberg has continuously rolled out activities to affirm his ambitions in the virtual market. After a series of tests, Meta partnered with Dapper and Coinbase Wallet to expand NFT integration across 100 countries in early August, making FLOW immediately spike 40%. But it was also the social giant’s metaverse business department that caused a loss of up to $ 2.8 billion in Q2, 2022.
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