Instagram and Facebook’s parent company, Meta, has announced that the two NFT networks are now cross-posting compatible thanks to the addition of support for non-fungible tokens (NFTs). After Meta expanded its NFT and Web3 wallet support to 100 countries in the first week of August, users in those countries now have the option to share their digital collectibles with one another.
A major social media platform, Meta, has just announced the “Capability to Post Digital Collectibles,” a continuation of its NFT rollout.
On August 29, 2022, Meta Platforms, Inc. (Nasdaq: META) said that it was “introducing the ability to publish digital treasures” on Instagram and Facebook. Meta announced the news on Twitter and linked to an updated blog article first published in May.
Meta received a mix of responses on Twitter after it announced NFT cross-posting compatibility and support for Facebook and Instagram. Some users praised the idea, while others poked fun at it. As one commentator put it, the recent interoperability between NFT cross-posting on Meta is “bullish.”
Others poked fun at the NFT statement, with one user telling Meta, “No, I’ll just upload the jpeg instead, thanks,” to which a second user joked that it was “more safe for sure” to share a photo.
During her Monday post, Meta said:
People can now share digital collectibles they’ve obtained on Facebook and Instagram, as part of our ongoing rollout of digital collectibles. By doing so, users will only need to link their digital wallet information once to each app before being able to transfer their digital valuables freely between the two.
Following the launch of NFT support in 100 countries and the integration of third-party wallets like Metamask and Rainbow on August 29, Meta made the related announcement. On August 4, Meta announced that Flow, Ethereum, and Polygon would be supported by the digital collectibles features. Meta has previously stated, “there are no fees related with posting or sharing a digital collection” on platforms like Instagram and Facebook.
In response to this, Twitter, a direct rival in the social media space, has introduced support for non-fungible tokens through its Twitter Blue Labs division. Users that take use of the tools made available by Twitter Blue Labs can now share 10-minute-long videos on the social media platform, as well as use a new type of profile image called an NFT. Meta has implemented Polygon and Flow, but Twitter only allows for static NFTs built on the Ethereum blockchain (ERC721, ERC1155).