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By now, it’s clear that the NFT trend isn’t going anywhere, in fact, it may soon become a big part of social media platforms. Meta has outlined its goal of entering the $40 billion NFT industry. The tech giant plans to help users create and sell digital collectibles, as well as allow them to display their NFTs on their Facebook and Instagram accounts.
The teams from Meta are working on features that will enable users to show off NFTs on their social media profiles, and allow users to mint and own NFTs using the company’s own Novi wallet.
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The Financial Times reported that Meta’s move to embrace NFTs came from Mark Zuckerberg’s comment that “NFTs could one day be wielded to support a market for digital goods in its planned metaverse.”
On the Flipside
- The developments are still in their early stages and are subject to change.
- Investing in NFTs is risky, as the industry is plagued by scammers and fluctuates based on speculation.