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Meta introduced a new update on Monday that would allow NFT owners to easily post their digital collectibles on its platforms. This would make it easier for them to promote and sell their NFTs on Facebook and Instagram at once.
“We’ve started giving people the ability to post digital collectibles that they own across both Facebook and Instagram,” Meta said in an updated blog post. “This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both.”
The update comes a few weeks after Meta rolled out the ability to post NFTs on Instagram to 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas. At the time, the feature allowing NFT owners to share their collectibles was focused on Instagram. That changes with the update released this week.
Since Meta opened its social media platforms for posting NFTs, the company allowed users to link their Rainbow, MetaMask, and Trust Wallet digital wallets to their Instagram accounts. But an update last Aug. 4 added Coinbase and Dapper to the list of supported digital wallets.
The announcement this week means digital wallets hosted on these platforms can now be linked to Facebook as well. NFTs minted in the Ethereum, Polygon, and Flow blockchains can then be shared on Facebook and Instagram. Per the update earlier this month, Meta will not collect fees from NFT owners sharing their digital collectibles on its social media platforms. The announcement this week did not mention any changes in that policy.
Meta started testing support for NFTs on Instagram back in May that started with creators in the United States. This included the ability to link digital wallets to the platform, which then allowed creators to easily share their digital collectibles on the platform.
Meanwhile, it is worth noting that Meta’s latest update also came after reports that NFT trading on OpenSea, one of the largest NFT marketplaces, has tanked by 99 percent in roughly a four-month period as of last Sunday. Data from DappRadar (via Fortune) shows OpenSea recorded only $9.34 million NFT transactions on Aug. 28 after processing $2.7 billion transactions last May 1.
Photo by Muhammad Asyfaul on Unsplash
