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Instagram’s parent company, Meta, announced On Wednesday, the company will begin testing NFTs on Instagram Stories using its Spark AR augmented reality platform.
CEO Mark Zuckerberg said news: “We’re expanding our test to allow more creators around the world to display their NFTs on Instagram.” The company also declared in the announcement: “Creators and collectors will be able to share their digital collectibles via Facebook and Instagram once we begin rolling out the feature on Facebook with select U.S. creators at a later date.”
Zuckerberg also confirmed that Facebook is set to support NFTs in the future:
“Soon we will add this feature to Facebook as well – starting with a small group of US creators – so that people can post on Instagram and Facebook. We will also soon be testing NFT on Instagram Stories using SparkAR.”
In May, Meta released digital collectibles, which the company described as “an entirely new way for consumers and creators to share NFTs on Instagram.”
Earlier this week, Meta also announced that it would team up with other technology companies to create the Metaverse standards body. The group intends to build the next version of the Internet and develop a common ideal for Web3 and the Metaverse. Some of the companies that have joined the initiative include Adobe, Epic Games, Microsoft, Nvidia, and Qualcomm; Apple was noticeably absent from the package.
Meta is not the only company looking to integrate NFTs. It followed social media rival Twitter, which ported NFTs to its platform back in January. Twitter’s NFT support allowed users to link Ethereum-based wallets to their accounts and display their NFT images as profile pictures. eBay recently acquired the Ethereum-based NFT marketplace KnownOrigin, expanding its presence on Web3. Even established DeFi companies such as Uniswap are starting to enter the NFT and metaverse markets following the recent acquisition of NFT aggregator Genie.