Meta continues to gradually add NFT features to its properties, adding the ability to cross-post NFTs across Facebook and Instagram to select US users on Monday.
By requiring only a one-time wallet connection on either Facebook or Instagram, the billion-dollar tech company hopes to make it easier for users to share their NFTs, also known as digital collectibles. After that, if cross-posting is enabled in the account settings of either application, the user’s wallet will be automatically recognized.
NFTs—unique blockchain tokens representing ownership—have gained traction as a social media feature on Twitter, with users purchasing Twitter Blue to “verify” their NFT ownership and transform their profile pictures into hexagon-shaped badges.
Now, Instagram and Meta’s push into NFTs, which CEO Mark Zuckerberg confirmed in March, is yet another step Web2 companies are taking to transition to Web3. On Facebook and Instagram, Meta currently supports Ethereum, Polygon, and Flow NFTs. In terms of crypto wallets, MetaMask, Rainbow, Trust Wallet, Coinbase Wallet, and Dapper can all be used to verify and share NFTs.
Cross-platform NFTs arrive to Meta
According to Meta, when NFTs are shared on Instagram or Facebook, the artist and owner are automatically tagged, and there are no fees for sharing. Why is NFT cross-posting important? For starters, it improves the user experience. A one-time wallet connection is much easier for users unfamiliar with managing cryptocurrency wallets.
As parent company Meta tests the Web3 waters, it’s no surprise that the line between Facebook and Instagram is becoming increasingly blurred. Meta has added several features that strengthen the link between Facebook and Instagram since it acquired Instagram a decade ago.
Instagram Stories, for example, can be easily cross-posted to Facebook, and Instagram payments require Facebook Pay to be set up and added to buy items or run ads through Instagram.
Meta did not respond to Decrypt’s request for comment on when its NFT features will be available to all users. However, it stated that as of August 4, Meta “began rolling out digital collectibles to people, businesses, and creators globally on Instagram.”
Zuckerberg appears to be keeping an eye on Web3 and some fundamental principles, such as decentralized governance. In an interview with podcaster Joe Rogan last week, Zuckerberg stated that he does not want Meta to be monolithic when it comes to corporate decision-making regarding content censorship.