Meta also stated earlier this week that it would form a Metaverse standards group with other tech companies.
Meta, Instagram’s parent company, announced on Wednesday that it will start testing NFTs on Instagram Stories with its augmented reality platform Spark AR.
“We’re expanding our test so that more creators around the world can display their NFTs on Instagram,” said CEO Mark Zuckerberg. “Artists and collectors will be able to share their digital collectibles across Facebook and Instagram after we begin rolling out the capability on Facebook with select US creators at a later date,” the firm said in an announcement.
Zuckerberg also stated that Facebook will support NFTs in the future:
“We’ll bring this feature to Facebook soon too — starting with a small group of US creators — so people can cross-post on Instagram and Facebook. We’ll also test NFTs in Instagram Stories with SparkAR soon.”
Meta launched digital collectibles in May, describing them as “a brand-new way for consumers and creators to share NFTs on Instagram.”
Meta also stated earlier this week that it would form a Metaverse standards group with other tech companies. The group plans to create the next generation of the web as well as a shared ethos for Web3 and the Metaverse. Adobe, Epic Games, Microsoft, Nvidia, and Qualcomm are among the companies that have joined the campaign; Apple is conspicuously absent.
Meta isn’t the only company attempting to include NFTs. It follows in the footsteps of social media competition Twitter, which added NFTs to its platform in January. NFT support on Twitter allowed users to link Ethereum-based wallets to their accounts and display their NFT art as profile images. eBay just bought KnownOrigin, an Ethereum-based NFT marketplace, boosting its Web3 presence. Even current Defi firms, such as Uniswap, are making inroads into the NFT and metaverse markets, as seen by their recent acquisition of NFT aggregator Genie.