Meta operators are reportedly investigating plans to make non-fungible tokens (NFTs) available as profile pictures on Facebook and Instagram.
Key developments
- It is reported that the plan includes NFT exhibits, mintings and sales of NFT tokens as several insiders told the Financial Times.
- Meta contributors are reported to be discussing launching a market to buy and sell NFTs, as well as OpenSea, whose trading volume increased by 646 percent in 2021.
- New features will help users to monetize digital art and enter the fast-growing NFT market, which recorded wealth of over USD 23 billion according to trading volume in 2021.
- Other tech giants have also integrated NFTs, including Coinbase, a US cryptocurrency exchange that is expected to launch an NFT marketplace later this year.
- Twitter is also testing how users can showcase their NFT collections.
Will the entry of tech-giants change the power dynamics of the NFT marketplace? To share your opinion, comment below.
