Facebook Pilots Ethereum, Polygon NFTs with Select Creators

meta, facebook, ethereum, polygon, NFT, creatorsjpg

Meta is piloting non-fungible tokens (NFTs) with Ethereum and Polygon for select U.S. creators on Facebook and will soon add Solana and Flow, a Meta spokesperson told Decrypt.

The move follows the social media giant’s NFT support for some creators on Instagram in May. Last week, Meta expanded its Instagram NFT pilot to enable more creators worldwide to display their NFTs. 

The Facebook trial is similar to Instagram’s initial pilot and enables creators to display NFTs on their profiles under a new tab. The art will show under a “digital collectibles” label, also like Instagram. 

See also: Instagram Trials NFT Sharing With Select Creators, Collectors 

There is no cost to post or share NFTs, and for now, there is no ability to turn posts into paid ads.

The launch follows Meta CEO Mark Zuckerberg’s announcement last week that NFT support would soon be trialed on Facebook. At the time, Zuckerberg said the test would allow creators to cross-post on Instagram and Facebook but that sharing feature is not yet available. 

Meta Product Manager Navdeep Singh tweeted screenshots of the digital collectibles framework, which show that when people click on NFTs posted on someone’s timeline, they will get details about that digital collectible, the collection, and the creator.

Read more: NFT Creators Caught Between Crypto Crash, Profit Margin

Select Facebook creators will be able to connect their cryptocurrency wallets to their Facebook profiles and turn their NFTs into Facebook posts.

Tech and media consultant Martin Bryant told Decrypt that Meta “clearly wants to offer a home to Web3 folks.” Meta also recently started testing changes to Facebook Groups to make them look “more like Discord.”

Related: Meta Intros Creator Marketplace, New Money-Making Tools, Metaverse Wallet

Earlier this month, Meta launched new tools to help creators make more money, including a creator marketplace with branded partnerships, an expanded Facebook Stars program and a wider Facebook Reels earnings program, PYMNTS reported. Meta said the new technologies will not only help creators earn more online now, but will also help creators as “we build for the metaverse.” 

Sign up here for daily updates on all of PYMNTS’ crypto coverage.