First Look at NFTs on Facebook

Facebook NFT

As you may be aware, Facebook is at an advanced stage of launching NFTs on their platform.

Meta CEO Mark Zuckerberg last month revealed that the company would soon start testing NFT support on their main platform.

A few days later, Meta Product Manager Navdeep Singh revealed the first screenshots of what to expect once the feature is rolled out.

Posting on Twitter, Navdeep said, “We’re launching NFTs on Facebook! Excited to share what I’ve been working on with the world,” alongside this screenshot.

Facebook NFT

The screenshots show a dedicated tab titled ‘Digital Collectibles’, where a user can showcase their NFT collection.

The initial roll-out will reportedly only be available to a limited number of content creators in North America, before being made available to everyone else.

Facebook’s entry into NFTs is part of a company-wide shift to the Metaverse. Mark Zuckerberg has stated that his company will lead the way to Web3, and with close to 3 billion monthly users, there’s no bigger platform to bring NFTs to the masses.

Meta-owned Instagram has also entered the NFT scene and the feature is currently available for some users.

NFTs on Instagram

Instagram currently only supports Ethereum and Polygon blockchains, but there are plans to support Solana and Flow in future.

For Facebook, the company has announced that there will be no fees charged on NFT creators. Further, no NFTs will be allowed in any advertising.

As it stands, NFTs on Meta-owned platforms are solely for showcase purposes. However, the company announced that they are exploring ways in which creators can make money, perhaps through an in-platform marketplace.

Now read: 6 Ways To Get Free NFTs

Previous Article
ENS domain

This .eth ENS Domain Just Sold for $320,000

Related Posts