The parent company of Instagram, Meta announced this Wednesday that it will begin testing NFTs on Instagram Stories using its SparkAR augmented reality platform.
CEO Mark Zuckerberg said of the announcement: “We’re expanding our test so more creators around the world can display their NFTs on Instagram.” The company also mentioned in a recent article: “Creators and collectors will be able to share their digital collectibles via Facebook and Instagram after we begin rolling out the feature on Facebook with select US creators at a later date.”
Zuckerberg confirmed that Facebook is prepared to support NFTs in the future:
“We’ll soon be bringing this feature to Facebook as well – starting with a small group of US creators – so people can cross-post on Instagram and Facebook. We’ll also be testing NFTs on Instagram Stories with SparkAR soon.”
In May, Meta released digital collectibles described by the company as “an entirely new way for consumers and creators to share NFTs on Instagram.”
Earlier this week, Meta also announced that it would join other tech companies to create a metaverse standards body. The group aims to build the next version of the web and develop a shared ethic for Web 3.0 and the metaverse. Some of the companies that have joined the initiative are Adobe, Epic Games, Microsoft, Nvidia and Qualcomm.
Meta is not the only company looking to integrate NFTs. It has followed its competitor Block, which brought NFTs to Twitter in January. Twitter’s support for NFTs allowed users to link Ethereum-based wallets to their accounts and display their artwork as profile photos. eBay recently acquired Ethereum-based NFT marketplace KnownOrigin, expanding its foray into Web 3.0. Even existing DeFi companies, like Uniswap, they are starting to make moves in the NFT and metaverse markets with their recent acquisition of NFT aggregator Genie.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.