Facebook and Instagram parent Meta has revealed users will have the ability to cross-post non-fungible tokens (NFTs) across Facebook and Instagram from this week. However, this will begin with a handful of US-based only. The social media giants intend to make it easier for users to share their “digital collectibles” by only requiring a one-time wallet connection on either Facebook or Instagram. The announcement comes less than a month after first introducing a digital wallet integration as the company looks to finally start integrating cryptocurrencies across its platforms.
“As we continue rolling out digital collectibles on Facebook and Instagram, we’ve started giving people the ability to post digital collectibles that they own across both Facebook and Instagram. This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both,” Meta wrote in an updated blog post. When NFTs are shared on Instagram or Facebook, the artist and owner will be automatically tagged, and there are no fees for sharing, said Meta.
The integration doesn’t come much as a surprise, given that the line between Facebook and Instagram has continued to blur as parent company Meta tests the Web 3 waters. Since it acquired Instagram a decade ago, Meta has added a number of features that deepen the link between Facebook and Instagram.
For instance, Instagram Stories can be cross-posted to Facebook, Instagram posts can be easily reposted to Facebook, and Instagram payments require Facebook Pay to be set up and added in order to buy items or run ads through the photo-sharing platform.
As for its venture into the world of digital collectibles, Meta first revealed its plans to expand into the NFT space back in May, noting that creators have begun taking to new technologies like NFTs to take more control over their work, their relationship with their fans, and how they can monetise their content.
Meta’s NFT efforts over the last few months have seen expansion to 100 countries and include support for wallets on several networks including Ethereum, Polygon, and Flow, with additional third-party support reportedly on the way.