Skip to content
Crypto Birb
Crypto Birb

Your Crypto & Blockchain Encyclopedia

  • HOME
  • Crypto News Live (English)
  • BLOG POST
  • BLOGS IN HINDI
  • Web Stories
  • Crypto Tools
  • Our Services
  • CONTACT US
Crypto Birb

Your Crypto & Blockchain Encyclopedia

Meta NFT support
August 4, 2022August 4, 2022

Meta Announce to Support NFTs

Sharing is caring!

  • Facebook
  • Twitter
  • LinkedIn

Meta Support to NFTs

Meta continues to push the NFT technology by its web 3.0 latest implementation plans , Meta wants to convert its platform and modules Like Instagram , WhatsApp and Meta to Web 3.0 Compatible as per

The world’s largest social media giant announced on Thursday that it will extend its digital collection feature that it recently tested on Instagram to include 100 countries from Africa, Asia-Pacific, the Middle East, and the Americas.

According to the announcement this feature will allow Instagram users use their NFTs to share with friends through the connection of their wallets with digital funds to the application. The initial launch will support Ethereum, Polygon, and Flow NFTs. In the future, Instagram plans to allow users to join Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet. The service will not have charges associated with it.

Meta is the name of the giant social network previously was known as Facebook was the first to show signs that it was preparing to adopt Web3 in month in October when it changed its name in an effort to assist in making the Metaverse expand. The company has invested the sum of $10 billion in its Metaverse division, Reality Labs, and added 1,000 employees in the last year however, it’s Web3 plans have been kept secret. The CEO of the company Mark Zuckerberg had previously discussed plans to offer support for NFTs and, in May, the company began an initial rollout to selected creators from the United States. Mark Zuckerberg said of the news in the moment:

“We’re not just building technology. We’re trying to also help foster this ecosystem, because at the end of the day, we’re not going to build most of the content – by a long shot. The vast majority of it is going to get created by creators in the ecosystem. And so I think a big part of what we need to do is really lean into all of the different ways that creators could make money.”

Meta is one of the prominent tech companies to display an interest in NFTs because they have grown in popularity, as have those like Twitter as well as Reddit. Yet, even as many companies are looking to adopt NFTs, NFTs can be controversial because many skeptical individuals have criticized the speculation-based character of market as well as the impact on the environment that Proof-of Work blockchains such as Ethereum which is where the bulk of NFTs are created currently. The co-founder of Ethereum Vitalik Buterin has also criticized Meta’s attempt to build the Metaverse but his criticism was centered around the vague notion of the Metaverse in itself. He stated in the last week that although he believed that the Metaverse will grow, companies such as Meta could “misfire” when trying to establish it, as it’s not specific concept of what people want to use it for.

Sharing is caring!

  • Facebook
  • Twitter
  • LinkedIn
CRYPTO NEWS

Post navigation

Previous post
Next post

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Posts

  • 7 Best Ways to Earn Free Cryptocurrency in 2023
    CRYPTO NEWS Technology

    7 Best Ways to Earn Free Cryptocurrency in 2023

    March 19, 2023
  • Breaking News: RBI and UAE Central Bank Sign MoU to Revolutionize Financial Innovation(CDBC)
    Alert CRYPTO NEWS

    Breaking News: RBI and UAE Central Bank Sign MoU to Revolutionize Financial Innovation(CDBC)

    March 19, 2023
  • BlackRock explores tokenization of stocks
    CRYPTO NEWS

    BlackRock explores tokenization of stocks

    March 19, 2023
  • How Whales Move $1 Billion Worth of USDT Off Crypto Exchanges in Just Days
    Alert CRYPTO NEWS Why Crypto down today

    How Whales Move $1 Billion Worth of USDT Off Crypto Exchanges in Just Days

    March 16, 2023
  • We are thrilled to announce that Uniswap has expanded its exchange services to the Binance Smart Chain!
    CRYPTO NEWS Technology

    We are thrilled to announce that Uniswap has expanded its exchange services to the Binance Smart Chain!

    March 16, 2023
  • India Takes Firm Action Against Cryptocurrency Crimes Under PMLA Regulations
    CRYPTO NEWS

    India Takes Firm Action Against Cryptocurrency Crimes Under PMLA Regulations

    March 15, 2023
  • Evidence Suggests Bitcoin Still Moves Lower Before New Bull Market
    Bitcoin CRYPTO NEWS

    Evidence Suggests Bitcoin Still Moves Lower Before New Bull Market

    March 13, 2023
  • Bitcoin Surges Above $24.3K Following President Biden’s Speech | Why Bitcoin up today
    CRYPTO NEWS Why Crypto Up today

    Bitcoin Surges Above $24.3K Following President Biden’s Speech | Why Bitcoin up today

    March 13, 2023
  • Litecoin’s Halving: What Investors Need to Know in 2023
    Cryptocurrency Basics Litecoin

    Litecoin’s Halving: What Investors Need to Know in 2023

    March 13, 2023
  • U.S. Treasury’s Janet Yellen Works to Prevent SVB Collapse, Not Bailout
    CRYPTO NEWS Why Crypto down today

    U.S. Treasury’s Janet Yellen Works to Prevent SVB Collapse, Not Bailout

    March 12, 2023

Recent Comments

  1. Ahmed Uphaus on अल सल्वाडोर का सकल घरेलू उत्पाद अपने इतिहास में पहली बार दो अंकों से बढ़ गया – राष्ट्रपति बिटकॉइन से संबंधित प्रौद्योगिकियों पर अधिक ध्यान केंद्रित किया है
  2. Seymour Santini on Crypto Meaning in Hindi
  3. admin on The Metaverse is Expanding and Merging The Science Fiction Elements Into Virtual Reality!
  4. Abdul Razzaq on The Metaverse is Expanding and Merging The Science Fiction Elements Into Virtual Reality!
  5. Indu vashish on What is Play To Earn Game Token?

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021

©2023 Crypto Birb | WordPress Theme by SuperbThemes