- Digital collectibles can be posted on both Instagram and Facebook feeds
- “At the end of the day, NFTs are about clout and signaling,” says Space Doodles developer
Meta first enabled select creators and NFT collectors to post their NFTs on Facebook and Instagram at the end of August.
Now, the digital collectibles feature is available to all Facebook and Instagram users in the US and 100 international countries where the Instagram roll out initially took place.
Users can unlock the feature by connecting a supported digital asset wallet to their social media accounts, including Rainbow, Trust Wallet, Dapper, Coinbase Wallet and MetaMask wallets.
The main perk is getting to share NFTs to Instagram or Facebook feeds, and cross-post any digital collectibles across both platforms for zero fees. Credit can be given to the artists behind an NFT by tagging them in the post.
“You could own lots of NFTs but the question is — how could I showcase it? At the end of the day, NFTs are about clout and signaling,” Varoun Hanooman, the developer behind the Space Doodles collection, told Blockworks.
The value of that is two-fold, added Hanooman: “It lets others know that you’re in a very exclusive community and that there’s a price associated with that.”
Twitter already lets users display PFP NFTs as their profile pictures, and blue chip NFTs are slowly becoming the new blue check mark or a new form of verification – proof of participation in the Web3 community.
Meta’s own initiative comes amid slow revenue growth and hiring freezes, and the company is betting big on metaverse technology to reach new users.
However, its release of Horizon Worlds, a virtual reality online metaverse game, did not receive the warmest reception with European users mocking its graphics last month. Meta’s metaverse division, Reality Labs, is reportedly losing billions of dollars a year.