Meta, Instagram’s parent company, announced Wednesday it will start testing NFTs in Instagram Stories via its augmented reality platform Spark AR.
Mark Zuckerberg CEO stated that the company was expanding its test to allow more creators to display their NFTs via Instagram. The company also announced, “Creators will be able share their digital collectibles through Facebook and Instagram once we start rolling out the feature on Facebook for select US creators.”
Zuckerberg also confirmed Facebook’s support for NFTs in future.
“We’ll soon bring this feature to Facebook too — starting with a few US creators — so that people can cross-post on Instagram. NFTs will also be tested in Instagram Stories using SparkAR.
Meta launched digital collectibles in May. The company describes it as “a new way for creators and consumers to share NFTs via Instagram”
Meta announced earlier this week that it will join other tech companies in creating a Metaverse standards body. This group will work together to create the next version web and a common ethos for Web3 as well as the Metaverse. Adobe, Epic Games and Microsoft joined the initiative. Nvidia, Qualcomm, and Qualcomm were all absent.
Meta is not the only company that wants to integrate NFTs. It was following Twitter, a social media competitor that introduced NFTs to its platform in January. Twitter’s NFT support allowed users of the platform to link Ethereum-based wallets with their accounts, and to display their NFT art in their profile pictures. eBay recently purchased Ethereum-based NFT platform knownOrigin, expanding its reach into Web3. With their acquisition of Genie, an NFT aggregator, even existing DeFi companies such as Uniswap is making moves into the NFT- and metaverse markets.