Who said NFTs were a one-off hyped-up trend? Not Meta. The company has introduced new NFT display options on Facebook.
The screenshots above by Meta product manager Navdeep Singh shows that Facebook users can now create custom NFT posts. These posts will have a Digital Collectible tag. And profiles will get a new, dedicated NFT area to brag about your artworks.
Same as on Instagram, if you tap through on these images, you will see who owns and who created the artwork. It also has a brief information about the piece.
The information comes from the NFT detail found on the public blockchain. And Facebook will support Ethereum, Polygon, and other major exchanges. NFT owners can even connect their Trust Wallet, Rainbow, and MetaMask accounts to verify ownership.
A crypto-aligned project, NFTs are still in a very long winter. It has felt the hit, as virtual financial products have taken the hardest jabs.
The latest Google Trends chart shows how consumer interest in NFTs is weakening.
The Wall Street Journal also recently reported that NFT sales have suffered a 92% decline since September 2021.
Trust in NFTs as an investment opportunity has waned after a series of controversies, scams, and exploits. Investors have lost thousands, even millions in a few cases.
The idea of digital items having a key role in the metaverse future still has merit though. People will still buy digital items just to boast about their status and personality in the virtual realm.
Still, Meta leans on NFTs as its steppingstone in its shift to a metaverse, regardless of the public’s perception.
This is the reason why Meta is testing an NFT marketplace for the sale of digital items in its apps.
Meta CEO Mark Zuckerberg has confirmed that NFTs will come to its products.
The company says it has started a ‘slow rollout’ of its Facebook NFT tools. It will start with a select group of US creators before it expands to other regions.