Earlier this week, Meta also announced that it would partner with other tech companies to form the Metaverse standards body.
Instagram parent company Meta announced on Wednesday that it will begin testing NFTs on Instagram Stories using its augmented reality platform Spark AR.
CEO Mark Zuckerberg said of the news, “We’re expanding our testing to allow more creators around the world to show their NFTs on Instagram.” The company also said in its announcement, “Creators and collectors will be able to share their digital collectibles to share via Facebook and Instagram once we begin rolling out the feature on Facebook with select US creators at a later date.”
Zuckerberg also confirmed that Facebook will support NFT in the future:
“Soon we will be adding this feature to Facebook as well – starting with a small group of US creators – so people can post on Instagram and Facebook. We will also be testing NFT on Instagram Stories with SparkAR soon.”
In May, Meta released digital collectibles, which the company described as “an entirely new way for consumers and creators to share NFTs on Instagram.”
Earlier this week, Meta also announced that it would partner with other tech companies to form the Metaverse standards body. The group intends to create the next version of the Internet and develop a common ideal for Web3 and the Metaverse. Some of the companies that have joined the initiative are Adobe, Epic Games, Microsoft, Nvidia and Qualcomm; Apple was noticeably missing from the packaging.
Meta isn’t the only company looking to integrate NFT. It followed social media rival Twitter, which ported NFTs to its platform back in January. Twitter’s NFT support allowed users to link Ethereum-based wallets to their accounts and display their NFT images as profile pictures. eBay recently acquired Ethereum-based NFT marketplace KnownOrigin, expanding its presence on Web3. Even established DeFi firms like Uniswap are starting to enter the NFT and Metaverse markets after recently acquiring NFT aggregator Genie.