Meta, Facebook and Instagram parent’s company will use Spark AR’s augmented reality platform to test NFTs on Instagram Stories.
“We’re expanding our test so more creators across the world may display their NFTs on Instagram,” CEO Mark Zuckerberg remarked in response to the announcement.
The business added in a statement that “once we start rolling out the capability on Facebook with select US artists at a later date,” “creators and collectors will be able to share their digital treasures across Facebook and Instagram.”
Additionally, Zuckerberg affirmed that Facebook would eventually enable NFTs:
“We’ll bring this feature to Facebook soon too — starting with a small group of US creators — so people can cross-post on Instagram and Facebook. We’ll also test NFTs in Instagram Stories with SparkAR soon.”
Digital collectibles were made available by Meta in May, according to the business, which characterized them as “a brand-new way for consumers and creators to share NFTs on Instagram.”
This week, Meta also disclosed that it would collaborate with other tech firms to establish a Metaverse standards organization. The group’s goals include creating Web3 and the Metaverse while also creating the following iteration of the web.
Adobe, Epic Games, Microsoft, Nvidia, and Qualcomm are a few of the companies that have joined the campaign; Apple was conspicuously absent.
Other businesses besides Meta are interested in integrating NFTs. It adopted NFTs as its model after social media rival Twitter did in January. Users were able to display their NFT artwork as profile images and link Ethereum-based wallets to their Twitter accounts thanks to Twitter’s NFT integration.
In order to further its entry into Web3, eBay has acquired the Ethereum-based NFT marketplace KnownOrigin. With their recent acquisition of the NFT aggregator Genie, even established DeFi companies like Uniswap are starting to enter the NFT and metaverse industries.