Meta taps Polygon to build NFT platform for Instagram, Facebook |

Meta, a decentralized platform for digital assets, announced today that it has partnered with Polygon to build an NFT (Non-Fungible Token) platform for Instagram and Facebook. The first use case on these platforms will be the ARG (Augmented Reality Game).

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The “how to create nft marketplace” is a platform that allows users to sell and buy digital assets. The idea for the platform came from the success of Meta’s Polygon app, which has been downloaded over 20 million times since its launch in 2016.

Polygon CEO Ryan Wyatt revealed on Twitter that the company has teamed with Meta to establish an NFT platform for Instagram and Facebook.

Polygon’s blockchain ecosystem will be made available to Meta’s aggregate 2.9 billion users as a result of the cooperation. Meta picked Polygon because of its carbon-neutral footprint and excellent scalability, according to Wyatt.

We’re thrilled to announce that @Meta is collaborating with @0xPolygon on their web3 push.

Polygon was chosen by Facebook because:

Our carbon impact is zero.

The scope of what we can provide

💻 Polygon is the platform of choice for the developer ecosystem. $FB pic.twitter.com/lk7D5ixgcB $MATIC

May 9, 2022 — Ryan Wyatt (@Fwiz)

Meanwhile, on May 9, Meta CEO Mark Zuckerberg revealed that limited testing of NFTs is ongoing on Instagram and that “similar functionality” would be coming to Facebook “soon.”

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We’re exploring Collectibles Digital for makers and collectors to display NFTs on Instagram, according to Mark Zuckerberg. NFTs provide creators ownership of their work, fan base, and earnings. Oh, and they gleam. pic.twitter.com/wraSdWvgLf https://t.co/gwCW0CiR3M

May 9, 2022 — Meta Newsroom (@MetaNewsroom)

More information on how the NFTs will operate on Instagram was revealed in a post on the Instagram Creators website. It said that “there would be no expenses connected with uploading or sharing a digital collectable on Instagram” and provided further information on how NFTs will be presented.

Collectibles Digital

Because many people are confused with the phrase fungible, the NFT Instagram integration focuses on the term “Digital Collectible” rather than NFT.

Instagram Collectibles Digital will allow users to connect a digital wallet, share Collectibles Digital, and automatically tag creators and collectors in posts.

The “shimmer effect” on the digital collectable Instagram postings will help them stand out from the rest of the stream. NFTs will very certainly be incorporated into Instagram as regular postings in your feed.

Meta-taps-Polygon-to-build-NFT-platform-for-Instagram-FacebookInstagram (source)

Only a restricted number of creators and NFT initiatives will have access to NFTs at first.

Users that will have access to Collectibles Digital first are @adambombsquad, @bluethegreat, @bossbeautiesnft, @cynthiaerivo, @garyvee, @jenstark, @justmaiko, @maliha_z_art, @misshattan, @nopattern, @oseanworld, @paigebueckers, @phiawilson, @swopes and @yungjake.

Gary Vaynerchuck, who started his Vee Friends NFTs in 2021 to tremendous success, is likely the most well-known name.

A non-traditional marketplace

The Facebook and Instagram markets have a combined monthly user base of 250 million people and generate hundreds of millions of dollars in income. Meta may be able to offer NFT sales on their marketplace in the future thanks to the incorporation of web3 technologies into their tech stack.

The biggest NFT marketplace, OpenSea, now has 1 million active users, while Meta has about 1 billion active users.

In the Metaverse, 3D NFTs

Zuckerberg wants Meta to concentrate on 3D NFTs in a Metaverse. The change of name from Facebook to Meta signified a strong desire to own the area.

Furthermore, since Meta owns Oculus and its wildly popular VR headsets, it seems that 3D NFTs will be utilized in the Oculus metaverse through Polygon. The Sony glasses-free display, which displays 3D NFTs without a headset, is another alternative for 3D NFTs.

Adoption of NFT

The decision to collaborate with Polygon over a layer-1 solution like Ethereum is anticipated to aid uptake among Meta’s consumer base of crypto newbies. Polygon will appeal to people new to the sector because of its low costs and carbon-neutral footprint.

Much of the public emphasis on cryptocurrency in recent months has centered on the seeming high energy use. As a result, it’s not surprising that Meta chose a carbon-neutral blockchain for their first blockchain collaboration.

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The “where to buy nft tokens” is a platform that allows creators of Instagram and Facebook posts to embed NFTs in their content. This has allowed for the creation of a new market for digital assets on social media platforms.

Related Tags

  • instagram meta platforms inc
  • nft marketplaces
  • nft trading platform
  • selling nft

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