NFTs are Invading Instagram and Facebook!
The NFT hype seems to be deflating amid numerous scam reports, making many people reduce their investments in this shady crypto asset. Nevertheless, many NFT advocates see this technology as a part of our digital future. They say that we are observing the very birth of NFT and mainstream adoption is about to come. This could be no more than the words of a skinking ship passenger, but the recent report by The Financial Times turns them into a forecast of the inevitable future!
Meta + NFT
As the report suggests, the NFT market may soon receive a great boost if Meta confirms to enter NFT trading and reveals its plans in the Industry. Meta has reportedly shared an internal note that it has plans to start testing NFT sharing and posting functionary in May. Another leaked document suggests that NFTs will be used for granting access to Facebook communities. Besides, Facebook will allow NFT minting and monetization via NFT-related fees and ads. Unfortunately, Meta refused to comment on these leaks.
It looks like Meta is planning to create a proprietary NFT system and make the platform more appealing to NFT asset holders and their communities. Currently, Discord holds the status of an NFT user hub with whitelisting and other stuff. Launching similar capabilities may drive a new wave of engagement to the stagnant platform. Considering the immense size of the user base, NFT projects may consider Facebook a great place for further growth.
At the moment, the idea to dive into the NFT market may not only make Facebook users more active but also provide scammers with fertile soil. Hopefully, Meta has a plan to keep scammers at bay in such a poorly regulated market. If it does, the dream to create a secure NFT-driven market where “anything is possible” may come true. What are your expectations from this project? Share your thoughts in the comments and tell your friends about the news by posting this story on social media.