Meta Expands NFT Sharing Feature From Instagram to Facebook

Meta, EU, data transfer

Continuing the rollout of the digital collectibles feature started in May, Meta is now enabling people to post non-fungible tokens (NFTs) they own on Facebook as well as Instagram.

This feature was added to Instagram May 10 and was expanded to Facebook Monday (Aug. 29), according to an update posted to a press release on Meta’s online newsroom.

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

“This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both,” the company said in the update.

With this feature, creators and collectors can connect a digital wallet to Instagram or Facebook, choose the NFTs they want to share and automatically tag the creator and collector.

After launching a test with the feature available on Instagram to select creators and collectors in the United States May 10, it was expanded to 100 countries and more wallets and blockchains on Aug. 4.

“Creators are using new technologies like NFTs to take more control over their work, their relationship with their fans and how they can monetize,” Meta said in the press release announcing the launch of the feature in May. “At Meta, we’re looking at what creators are already doing across our technologies in order to improve the experience, help them create more monetization opportunities and bring NFTs to a broader audience.”

As PYMNTS reported in January, before the launch of the feature, NFTs have several uses, such as a medium for artwork, but they are also widely used as avatars and to represent tradable — and saleable — in-game items in blockchain-based decentralized video games.

Read more: Facebook, Instagram Jump Into NFTs, a Springboard to the Metaverse

Meta’s move also exposes a far larger audience to the NFT market — Facebook now has 2.6 billion members — and makes it far simpler for people unfamiliar with cryptocurrencies and digital wallets to purchase them.