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Meta Begins Testing NFT Integration on Facebook
The testing of NFTs on Facebook follows a series of pilot integrations on Instagram in May.
Social media giant Meta (FB) has started to test Polygon and Ethereum-based non-fungible tokens (NFTs) among a selected group of creators on Facebook, according to Meta's Product Manager Navdeep Singh.
- Singh posted a series of screenshots of the update, which includes a "digital collectibles" tab that will allow Facebook users to showcase NFTs on their profile page.
- In May, Meta made its first foray into NFTs by testing NFT integrations on Instagram.
- "We're expanding our test so more creators around the world can display their NFTs on Instagram," Meta CEO Mark Zuckerberg said on June 21. "We'll bring this feature to Facebook soon too – starting with a small group of U.S. creators – so people can cross-post on Instagram and Facebook."
- The NFT market is experiencing a downturn alongside a lull in the wider crypto market. NFT trading volume on OpenSea during June was its lowest in 11 months, according to Dune Analytics.
Read more: Meta Starts Building a Digital Economy for Creators in Horizon Worlds
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Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
