NFTs on Facebook: Meta begins testing NFTs with select creators in the US

After months of waiting, the web3 community can finally use NFTs on Facebook. The announcement comes a week after Mark Zuckerberg, CEO of Meta, stated that the business will begin testing for NFT support on Facebook. User interface screenshots were shared on Twitter by Meta’s Navdeep Singh, a product manager.

Meta called the release a “slow rollout”

Facebook NFT adoption to officially launch soon

For the NFT industry, the news that Facebook is now allowing NFTs on its platform is a huge step forward. The firm is the world’s largest social media network and the industry leader. Since it has more than 2.9 billion monthly active users, the NFT market will be more accessible than ever before. To put it in perspective, Facebook is used on a daily basis by 35% of the global population.

In the tweet by Navdeep Singh, he states, “We’re launching NFTs on Facebook! Excited to share what I’ve been working on with the world.” However, it is essential to note that this is not a full rollout of NFT technology. Currently, the ‘digital collectibles’ page is only available to certain content creators in the United States and Canada.

There are four screenshots of the Facebook app showing NFTs. New display settings for NFTs can be seen in these screenshots. You can learn more about each NFT’s creator and the collection as a whole by clicking on it. When Meta first launched NFTs to the Instagram platform, it was only for Ethereum (ETH) and Polygon (MATIC) NFTs. However, they confirmed that they want to employ Solana and Flow in the future. It is uncertain whether Facebook will take a similar strategy, but this looks to be the most likely consequence.

Meta started testing NFT integration on Instagram in May

In the near future, Meta aims to provide NFT creators with the opportunity to cross-post on all Meta platforms, such as Facebook and Instagram. Additionally, Facebook has guaranteed that there won’t be any costs for NFT artists using the social media site. Notably, NFTs will not be permitted in any advertising. This is a crucial choice because the platform now heavily relies on advertising and sales.

The adoption of NFT on Facebook and Instagram is a key component of Meta’s expansive metaverse ambition. The company is wholly dedicated to the concept of the “metaverse” and seeks to lead the web3 revolution.

Summary