Facebook Starts Testing Polygon And ETH NFTs On Profiles

Facebook starts testing polygon and ETH nfts on profiles and if deployed widely, the users can connect their crypto wallets to their profiles so let’s read more today in our latest cryptocurrency news.

Meta, formerly known as Facebook started rolloing out NFTs for some US Creators on the social network. Facebook is starting with ETH and Polygon but it aims to add support for NFTs on Flow and Solana. Meta Product Manager Navdeep Singh shared a sneak peek of what the NFTs will look like and according to the post, the users will have a digital collectibles tab on their profiles where they can show their NFTs which are unique blockchains tokens that provide ownership.

We're launching NFTs on Facebook! Excited to share what I've been working on with the world. pic.twitter.com/TaV66zRanV

— Navdeep Singh (@navdeep_ua) June 29, 2022

The users can also connect their crypto wallets and can turn their NFTs into Facebook posts that can be reacted to, liked, commented on, and shared just like other posts. Tech and media consultant Martin Bryant argued that meta wants to offer a home to Web3 while announcing that the company also started testing out changes to Facebook Group to make them look like Discord. The social media giant rolled out NFTs on the Instagram platform for some creators in a few countries and in an earlier announcement, Instagram shared that the NFTs posted or shared on the app will tag both the creators and the collectors so the company won’t charge fees for posting or sharing these NFTs.

The collectors can share their NFTs as augmented reality stickers and as the head of Instagram Adam Mosseri said, the platform will launch NFT features in part because of the growing economy:

“Now, we think one really interesting opportunity for a subset of creators is NFTs—the idea of owning a unique digital item.”

As Facebook starts testing ETH and Polygon NFTs, there were no more elaborate comments on whether or when the features will go live for all users.

As recently reported, Zuckerberg said that there will be updates to help creators build for the metaverse and added that he wanted platforms like Facebook to play a huge role in the creator economy. There were six new updates that Zuckerberg shared in his thread with the first one being to bring more revenue with social media platforms holding off the revenue sharing on Facebook and Instagram until 2024 which includes paid online events, Badges, and bulleting and Subscriptions.