Big tech firms have been betting big on evolving technologies, with Meta (formerly Facebook) declaring that it has initiated rolling out non-fungible tokens (NFTs) across 100 nations, including some in the Middle East, Africa, and the Americas.
How was the announcement made?
The announcement was made through a post on Facebook where the firm’s CEO Mark Zuckerberg, posted an image of his old little league baseball card that will soon be transformed into NFT.
What does the update include?
The update also includes support for wallet integration with the NFT platform, Dapper, and US-based crypto exchange Coinbase. Meta said it will also enable users the ability to post NFTs and other digital art that have been minted on the Flow blockchain. The starting rollout targets the famous photo-sharing platform Instagram, which is also acquired by Meta.
What do the users have to do?
For users to post NFTs on Instagram, they will have to connect their digital wallets to their Instagram accounts. Meta has also declared that it will allow integrations with third-party wallets such as Rainbow, MetaMask, and Trust Wallet, which will be launched soon. Presently, Meta is allowing support for Flow, Ethereum, and the Polygon blockchain. However, it might roll out a few more options as the project advances.
What is the current scenario?
Presently, users don’t need to pay any kind of fee for posting images on the platform. Some Instagram users may also be allowed to display their NFTs on their pages after testing is done in May this year.