Multinational tech conglomerate Meta is reportedly getting involved with non-fungible tokens (NFTs) by integrating a feature that will allow users to display their NFTs on their Facebook and Instagram profiles.. According to the report, Meta is currently working on prototypes that will allow users to mint collectible tokens.
Meta is also discussing the possible launch of a market that allows the buying and selling of NFTs. But nevertheless, While the news may excite millions of NFT enthusiasts using social media, all projects are still in the early stages and may yet change accordingly.
The discussions follow a push to bring in more staff to help with Meta projects. On January 12, Meta began a drive to hire more employees and managed to get around a hundred people to leave Microsoft. Meanwhile, to prevent staff from dumping them for Meta, Apple offered bonuses of $50,000 to $180,000 along with stock options.
Formerly known as Facebook, Meta’s significant rebranding allows the company to focus on initiatives beyond social media. Last year, the company announced its plans to create a metaverse that connects physical experiences with social experiences online. The company has also released haptic glove trailers that can be deployed for use in your future metaverse.
The potential profits in the world of NFTs are becoming very difficult to ignore. The companies even predict that traditional brands will dive into the NFT space and explore how to win in the market.
Recently, Leading NFT marketplace Opensea surpassed $3.5 billion in monthly transaction volume. This means that more than $169 million is spent each day on NFT trading within the platform alone.. According to NFT sales tracking statistics, the NFT market has had a total of $25 billion in all-time sales so far.
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