Meta introduces NFT crossposting and sharing on Instagram
Meta, Facebook and Instagram’s parent company, announced another development in its digital arts initiative. As of Sept. 29, all users on both platforms can connect wallets and share nonfungible tokens (NFTs) across 100 countries.
As part of the feature, which has been in testing since May, users will be able to tag creators and collectors and cross-post digital collectibles between platforms without paying any fees.
Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries. Creators like artist Lívia Elektra are sharing their #NFTs on our apps. https://t.co/6yV4HgfHSW https://t.co/wa2wkWgfWX pic.twitter.com/fRi0wA7a6l
— Meta Newsroom (@MetaNewsroom) September 29, 2022
In August, Meta started allowing users to post digital collectibles that they own across Facebook and Instagram, and announced an international expansion to countries in Africa, Asia-Pacific, the Middle East, and the Americas.
The company also added support with third-party wallets such as Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet, along with support for Ethereum, Polygon and Flow’s blockchains.
Several Twitter users expressed concern regarding the safety and privacy of the data transmitted by connecting digital wallets to Meta’s platform at that time. In April 2021, sensitive personal information for over half a billion Facebook users was leaked on a well-trafficked hacking forum.
According to Statista figures, Facebook and Instagram have 2.9 billion and 1.4 billion monthly active users respectively.