Meta has launched a feature that will allow Facebook and Instagram users to share NFT on both platforms by connecting their wallets to either platform.
Meta and NFTs
Meta on Monday reported a new feature that will allow Facebook and Instagram users to share NFTs on both platforms, meaning users will be able to post collectible digital assets by connecting their Metamask, Coinbase and/or Dapper wallet to either platform.
— Meta Newsroom (@MetaNewsroom) August 29, 2022
The announcement comes just three weeks after the company rolled out NFTs on Instagram in 100 countries across Africa, Asia-Pacific, the Middle East and the Americas.
Meta began testing NFTs on Instagram in the U.S. in May before extending the same testing program to Facebook in June.
While the company has not yet officially rolled out NFTs on Facebook globally, the fact that users can share between Facebook and Instagram means that NFTs are essentially available in 100 countries on both platforms.
Meta wrote: “As we continue to roll out digital collectibles on Facebook and Instagram, we have started giving people the ability to post digital collectibles they own on both Facebook and Instagram. This will allow people to connect their digital wallets once to either app to share their digital collectibles on both.”
According to data compiled by CoinGecko, NFT transaction volume on OpenSea has plummeted 99% from its peak, making the leading NFT marketplace a shadow of its former self.
In contrast, fan tokens have taken the opposite direction, soaring to new highs. The increase in fan token transaction volume can be attributed to the return of league seasons around the world, which have opened their new campaigns in the last three weeks.
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