Zuck wants to build AR NFTs for Instagram because… maybe he’s bored?
Only Ethereum and Polygon based NFTs are supported for now
Meta’s ambitions go beyond just sharing NFTs
Meta’s announcement had an underlying theme of the company thinking about NFTs beyond sharing them on feeds.
Mosseri said that the creator economy is important to Instagram, and one of the challenges the industry faces is to help creators make money. Maybe we’ll see Instagram supporting sales of digital collectibles in the future.
There are a couple of indicators to that extent. Mobile developer Alessandro Paluzzi has tweeted several times about Instagram testing digital collectibles, anda few ofthosescreenshotsalso hint toward a bidding process.
Last night, app sleuth Jane Manchun Wong tweeted about NFT marketplace OpenSea working on a “connect to Instagram” button. This could be used for sales or even promotional purposes for artists.
News about more of the company’s NFTs ambitions came froma video Mark Zuckerberg posted on Facebook. A clip from his conversation with YouTuber Tom Bilyeu suggested that the company also wants to bring NFTs to Facebook.
What’s more, it‘s also exploring the creation of augmented reality NFTs through its Spark AR tech, so you can “place digital art into physical spaces.”
A deleted thread of tweets bya Facebook execalso hinted toward using NFTs in the metaverse to share digital goods and experiences.
Meta’s just getting started with NFTs, and it’s already declared that it has loftier ambitions than the likes of Twitter.
But as we noted in our story in March, the space is ripe with scams and thefts. So it’s important for the company toprotect creators and collectorsfrom hacks and derivative art projects by creating security and education tools about NFTs.
Story byIvan Mehta
Ivan covers Big Tech, India, policy, AI, security, platforms, and apps for TNW. That’s one heck of a mixed bag. He likes to say “Bleh.“Ivan covers Big Tech, India, policy, AI, security, platforms, and apps for TNW. That’s one heck of a mixed bag. He likes to say “Bleh.”
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