By Kate Irwin, Decrypt
2nd July 2022 – Meta, formerly known as Facebook, has begun rolling out NFTs for some U.S. creators on its flagship social network.
Meta Product Manager Navdeep Singh shared a sneak peek of what NFTs will look like on Facebook in a Twitter post Wednesday. According to the post, users will have a “digital collectibles” tab on their Facebook profiles where they can showcase their NFTs, which are unique blockchain tokens that signify ownership.
Users will be able to connect their cryptocurrency wallets to their Facebook profiles. They’ll also be able to turn their NFTs into Facebook posts, which can be reacted to, liked, commented on, and shared just like any other post.
Tech and media consultant Martin Bryant argued that Meta “clearly wants to offer a home to Web3 folks” with the announcement, considering the company has also recently begun testing out changes to Facebook Groups to make them look “more like Discord.”
Singh did not respond to Decrypt’s request for comment.
The social media giant previously began rolling out NFTs on Instagram for some creators “in a handful of countries” in May, the Meta representative confirmed to Decrypt via email.
In an earlier announcement, Instagram shared that NFTs posted or shared on the app will automatically tag both the NFT’s creator and collector, and the company won’t charge any fees for posting or sharing NFTs. Collectors will also be able to share their NFTs as augmented reality stickers.
Adam Mosseri, Head of Instagram, previously said that Instagram is launching NFT features in part because of the growing creator economy.
“Now, we think one really interesting opportunity for a subset of creators is NFTs—the idea of owning a unique digital item,” Mosseri said in May.