Crypto: Meta lets users post NFTS on Facebook and Instagram

Silhouettes of mobile users are seen next to a screen projection of Instagram logo in this picture illustration taken March 28, 2018.  REUTERS/Dado Ruvic/Illustration
Meta is now letting users post their Ethereum and Polygon NFTs on Facebook and Instagram. Reuters/Dado Ruvic/Illustration

Meta is now letting users post their Ethereum and Polygon NFTs on Facebook and Instagram.

Mark Zuckerberg's company released an update at the beginning of the week adding that users will also soon be able to post digital collectables, or NFTs, from the Flow (FLOW-USD) and Solana (SOL-USD) blockchains.

The tech giant is allowing its users to connect their crypto wallets to their Facebook and Instagram social media platforms.

Crypto wallets such as Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet are now compatible with Facebook and Instagram.

INDIA - 2022/07/03: In this photo illustration, a NFT (Non Fungible Token) logo is displayed on a smartphone screen with a META Logo in the background. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images)
An NFT on a smartphone. Illustration:Avishek Das/SOPA/LightRocket/Getty Images)

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The ability to link up with crypto-wallets will mean that social media users can begin to post their NFTs that were minted on the Ethereum (ETH-USD), Polygon (MATIC-USD) and Flow networks.

Shares in META finished the day's trading in New York at $159.17, (£135.86) down 1.61%in the day.

In a blog post released on Monday Meta (META) said: “As we continue rolling out 'digital collectibles' on Facebook and Instagram, we’ve started giving people the ability to post 'digital collectibles' that they own across both Facebook and Instagram.

"This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both."

Facebook CEO Mark Zuckerberg testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on
Facebook CEO Mark Zuckerberg. Photograph: Reuters

The company will begin testing the rollout of the new NFT function on Instagram this week.

The test involves a selection of US NFT artists and creators, who will be allowed to begin posting their 'digital collectibles' which they have created or bought.

The feature includes connecting a digital wallet, sharing 'digital collectibles' and automatically tagging the creator and collector.

Meta has said that there will be no fees associated with posting or sharing an NFT on Instagram.

The test will begin on Instagram, but the company said they'll soon be rolling out their 'digital collectibles' on Facebook, and allowing users to display and share their 'digital collectibles' as AR stickers in Instagram Stories.

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One NFT creator selected for the test phase, called Maliha Abidi said: “I feel excited to be able to share my NFT journey with the community I’ve been cultivating on IG for over ten years!

"I love how this new feature will let collectors trace the art back to the artist and be a part of the community that they have been building on IG for so long.

"I also love how it bridges my traditional art community and the Women Rise NFT community.”

Meta's plan is to support all major blockchains and wallets so more crypto-native people can display their digital art on its mainstream social media platforms.

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