Facebook Parent Meta Testing NFTs With Some Creators In The US: Report

Meta Platforms Inc META is reportedly testing digital collectibles on Facebook with select creators across the United States.

What Happened: According to a TechCrunch report on Thursday, Meta has started a slow rollout for a few NFT creators to post their digital collectibles on Facebook.

Similar to the one introduced on Instagram, the feature will allow creators to display NFTs on their profiles under a tab titled “digital collectibles.”

See Also: HOW TO MAKE AND SELL NFTS

In an announcement last week, Meta CEO Mark Zuckerberg said the company was rolling out more ways for creators to make money on Facebook and Instagram.

“We'll hold off on any revenue sharing on Facebook and Instagram until 2024. That includes paid online events, Subscriptions, Badges, and Bulletin,” said Zuckerberg.

“We’ll also test NFTs in Instagram Stories with SparkAR soon."

So far, Instagram supports NFTs minted on Ethereum ETH/USD and Polygon MATIC/USD and plans to add support for the Solana SOL/USD and Flow FLOW/USD blockchains in the near future.

Price Action: According to data from Benzinga Pro, Meta shares were trading 0.16% lower during the after-market session.

Read Next: Facebook Parent Meta Cuts Hiring Plans As Mark Zuckerberg Flags 'Worst Downturn In Recent History:' Report

Illustration by Chaosamran_Studio on Shutterstock

Posted In: FacebookMark ZuckerbergNFTsCryptocurrencyNewsSocial MediaMarketsTechGeneral

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