Meta keeps adding NFT features to its sites bit by bit. On Monday, it added the ability for some U.S. users to post NFTs on both Facebook and Instagram.
The $1 billion tech company wants to make it easier for users to share their NFTs, which they call “digital collectibles,” by only requiring a one-time wallet connection on either Facebook or Instagram.
After that, if cross-posting is turned on in the account settings of either app, the user’s wallet will be automatically recognized.
NFTs, which are unique blockchain tokens that show ownership, has become a popular feature on Twitter. Users buy Twitter Blue to “verify” their NFT ownership and turn their profile pictures into hexagon-shaped badges.
Now, Instagram and Meta’s move into NFTs, which CEO Mark Zuckerberg confirmed back in March, is another step Web2 companies are taking to move toward Web3. Meta currently works with Ethereum, Polygon, and Flow NFTs on Facebook and Instagram. MetaMask, Rainbow, Trust Wallet, Coinbase Wallet, and Dapper are all crypto wallets that can be linked to verify and share NFTs.
— Meta Newsroom (@MetaNewsroom) August 29, 2022
Meta says that when NFTs are shared on Instagram or Facebook, the artist and owner are automatically tagged, and sharing doesn’t cost anything.
Why is it important to cross-post to NFT? Well, for one user, it makes things a lot better for users. Users who are new to managing cryptocurrency wallets will find that a one-time wallet connection is much less of a hassle.
A statement from Meta says that “interoperability in the metaverse” is one of the main reasons for the cross-posting feature.
As parent company Meta tests the Web3 waters, it’s not surprising that the line between Facebook and Instagram is continuing to blur. Meta has added a number of features that make the link between Facebook and Instagram stronger since it bought Instagram ten years ago.
For example, Instagram Stories can be added to Facebook, and Instagram posts can be easily shared on Facebook. If you want to buy things or run ads on Instagram, you need to set up and add Facebook Pay.
Meta didn’t answer Decrypt’s question about when its NFT features will be available to all users, but it did say again that on August 4, it “started rolling out digital collectibles to people, businesses, and creators around the world on Instagram.”
A Meta representative told Decrypt via email, “As of today’s announcement, we’re continuing the U.S. rollout on Facebook that we started in June.”
Zuckerberg seems to be keeping an eye on the world of Web3 and some of its most important ideas, like decentralized governance. In an interview with podcaster Joe Rogan last week, Zuckerberg said that he doesn’t want Meta to be a single entity when it comes to things like censoring content.
Zuck said, “I think the best way is to set up principles for governance that try to be fair and don’t put too much power in one place.”