- Mark Zuckerberg paid $60million to get a new brand name, “Meta.”
- Meta is actively working for the betterment of Metaverse and Web3.
- Meta upgraded feature of Non-Fungible tokens on Facebook and Instagram.
Meta Platforms Inc. is a parent company of Facebook and Instagram. The company is headquartered in California. The company changed its name from Facebook to Meta in October 2022.
Meta recently launched an upgraded feature on Facebook and Instagram of non-fungible tokens (NFT). The NFTs upgraded features are for U.S based users. This feature will enable users to connect their wallets and share their NFT with their followers and friends on social networking sites.
According to the official announcement, the upgrades allow Facebook and Instagram users to cross-post their digital assets.
In addition, the feature is now available to everyone in around 100 countries where digital collectibles are available on Instagram.
Facebook and Instagram users can connect their wallets like Rainbow, MetaMask, Trust Wallet, etc.
Meta is one of the biggest social media giants actively participating in improving Metaverse and Web3. In an official announcement in May 2022, Meta revealed its NFT capabilities for Facebook and Instagram.
Metaverse provides a clear separation from the internet we are using today. But it appears that the Metaverse will provide another world, which the people might find interesting.
Meta praised the diverse Opportunities opened up for creators after the introduction of blockchain technology.
For the last few months, Meta enabled Instagram users to post NFTs. The feature looks enthralling and can be considered important when the company extends the technology to further platforms.
An official statement of the company highlighted that “At Meta, we’re looking at what creators are already doing across our technologies to improve the experience, help them create more monetization opportunities, and bring NFTs to a broader audience. “
An individual user needs to determine whether Facebook and Instagram support their wallets to link to social media sites where users or content creators own NFTs. At the time, the protocol only supported Polygon, Ethereum, and Flow Network.
The Social Media protocol also supports wallets operated by Third-Party, including the MetaMask Wallet, Coinbase Wallet, Trust Wallet, and Dapper Wallet. The MetaMask wallet is the most renowned wallet, which lets users connect with Facebook, Instagram, and several other networks operating a browser extension.
As per the notification of Meta, users need to log in to their accounts to link their wallets. After this procedure, the user must tap on the setting, select the digital collectible option from the drop-down box, and click the connect button.
Futhure, the social networking platform will show a screen requesting information like the user’s password for their digital wallet. Users are supposed to tap on the “Sign” to approve access to their cryptocurrency wallets. One crypto wallet can be linked to a single Facebook or Instagram account by following these easy steps that take a few minutes.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/10/03/now-facebook-and-instagram-users-can-link-their-cryptocurrency-wallets/