Quick take:
- Meta has launched its NFT sharing feature to all Facebook and Instagram users in the US.
- The global social media conglomerate said the feature will also be available in the 100 countries where users have access to NFTs on Instagram.
- The company launched the NFT sharing feature to a few US users at the end of August for testing.
Meta has accelerated its non-fungible token (NFT) campaign with the launch of its NFT sharing feature to all US users. On August 29 the company introduced the feature to a few creators during the testing phase.
Announcing the global launch of the feature, Meta said: “Everyone on Facebook and Instagram in the US can now connect their wallets and share their digital collectibles.”
The feature gives NFT holders the ability to cross-list their digital collectibles on Facebook and Instagram.
“Additionally, everyone in the 100 countries where digital collectibles are available on Instagram can now access the feature,” the company wrote in an update to its post on NFTs.
Meta has been one of the leading players in the web3 space, with a projected investment of more than $70 billion. The company committed to investing $10 billion annually for at least five years to build its metaverse.
However, its NFT campaign seems to be gaining traction at a quicker pace amid partnerships with web3 companies. Meta has collaborated with Dapper Labs, the company behind NBA Top Shot NFTs and Flow blockchain to enable NFT purchases via Instagram and Facebook.
Meta prefers the name digital collectibles when discussing NFTs, which basically are digital representations of an artwork, a collectible, or JPEGs, stored in the blockchain.
Meta shared a few examples of creators that shared their digital collectibles on Instagram and Facebook including a digital artwork from Instagram creator Elektra.
Users can display their NFTs from leading marketplaces like SuperRare, the home of NFT art.
Meta has also announced the official rebranding of Facebook Pay to Meta Pay as part of its new corporate identity focused on taking conversations to the metaverse. The company launched Meta ID, a universal login interface that will eventually replace Facebook and Instagram logins.
The new login interface integrates the company’s social media platforms with Meta Quest, previously Oculus Quest, the revolutionary hardware that powers Meta’s metaverse project.
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