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Facebook starts NFT trials with select content creators

Fri 01 Jul 2022    
EcoBalance
| < 1 min read

San Franciso: Facebook has rolled out a test to support non-fungible tokens (NFTs) with a select group of creators in the US on its platform, as it aspires to capture the multi-billion dollar metaverse industry.

Navdeep Singh who is a product manager at Meta shared screenshots of NFTs on Facebook.

“We’re launching NFTs on Facebook! Excited to share what I’ve been working on with the world,” he posted.

Last month, Meta CEO Mark Zuckerberg said that NFTs will soon arrive on Instagram. Facebook starts testing NFTs Facebook starts testing NF

Addressing one of the sessions at the ‘South By Southwest event, Zuckerberg said that “over the next several months, the ability to bring some of your NFTs in, hopefully over time be able to mint things within that environment”.

The Meta CEO said that “a bunch of technical things that need to get worked out before that’ll really be seamless to happen.”

“We’re working on bringing NFTs to Instagram in the near term,” the Meta Founder said.

“Similar functionality is coming to Facebook soon, along with augmented reality NFTs on Instagram Stories via Spark AR so you can place digital art into physical spaces,” he earlier announced.

About NFT

NFT means non-fungible tokens (NFTs), which are generally created using the same type of programming used for cryptocurrencies. In simple terms, these cryptographic assets are based on blockchain technology. They cannot be exchanged or traded equivalently like other cryptographic assets.

Like Bitcoin or Ethereum. The term NFT clearly represents it can neither be replaced nor interchanged because it has unique properties. Physical currency and cryptocurrency are fungible, which means that they can be traded or exchanged for one another. Facebook starts testing NFTs

Source: Agencies


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