Meta is reportedly examining the ways it can create, display, and sell NFTs across both Facebook and Instagram.
The early stages
It has been reported that Meta is currently in the process of designing a feature that will give users the opportunity to display NFTs, or non-fungible tokens, as their profile pictures on Facebook and Instagram with a prototype that enables users to mint NFTs is also apparently in the works.
The technology conglomerate has also followed in the footsteps of GameStop by also discussing its upcoming plans to create and launch an online marketplace where users can buy and sell NFTs.
There is no expected launch date for when these features are due to land on the market and plans may still change, but Meta remains steadfast in its plans to capitalise on the ever-expanding metaverse despite a number of widespread concerns.
An inevitable move
Meta CEO, Mark Zuckerberg, has previously expressed his admiration for NFTs and, particularly, how he believes they will eventually become a fundamental component of the metaverse. This makes his decision to test the waters by integrating them into Facebook and Instagram first a somewhat logical next step.
It comes as Coinbase, an online cryptocurrency platform, has simplified the process of getting involved with NFTs by giving users the opportunity to purchase them from its marketplace using a Mastercard.
With Twitter also launching a feature this week that gives its users the opportunity to display NFTs as their profile pictures, social media appears to be embracing the latest digital trend as opposed to shying away from it.
