NFT sharing is now open to all US citizens through Instagram and Facebook

Last week, Meta announced that Facebook and Instagram users are now able to connect wallets and share non-fungible tokens (NFTs) that they have created or bought across 100 countries. 

"Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries", tweeted Meta.

In order to post their digital collectibles, users will have to connect wallets from Coinbase, Dapper Labs, MetaMask, Rainbow, and Trust to either platform. The app's new feature brings also the possibility to cross-post NFTs across platforms.

The good news for all the creators planning on using this new feature is that posting or sharing a digital collectible on Instagram will be completely free.

“There will be no fees associated with posting or sharing a digital collectible on Instagram”, said Meta.

In May, Meta started to test introducing digital collectibles to U.S. creators and collectors, having the support of several blockchains such as Ethereum, Polygon, and Flow.

Following the first announcement of expanding access to NFTs, at the beginning of August, Meta started an international evolvement to countries in Africa, Asia-Pacific, the Middle East, and the Americas. 

While for all the Instagram creators who inspire people, the announcement of the new feature is exciting, bringing more monetization opportunities through selling their art as non-fungible tokens (NFTs); others raised security and privacy-related concerns, about the fact that by connecting their digital wallets users may allow access to their full crypto transaction history.

Last year in April, sensitive personal information was leaked on a well-trafficked hacking for over half a billion Facebook users and cryptocurrency traders were vulnerable to sim swapping and other identity-based attacks. 

Although Meta didn't mention any strategies regarding user privacy, it stated:

"It is also important that we keep Instagram a safe and enjoyable place for everyone. Therefore, people can use our tools to keep their accounts secure and report digital collectibles which go against our community guidelines."

Could the digital collectibles bring a win to Meta?

One year later after introducing Meta, Mark Zuckerberg says will reduce staff and restructure some teams to cut costs.

 “I had hoped the economy would have more clearly stabilized by now, but from what we’re seeing, it doesn’t yet seem like it has, so we want to plan somewhat conservatively.”, said Chief Executive Officer Mark Zuckerberg

The CEO suggested that the company's revenue doesn't look good either compared with other years, and he stated that:

“For the first 18 years of the company, we basically grew quickly basically every year, and then more recently our revenue has been flat to slightly down for the first time.”

The company's journey towards Web3 had little to show so far, maybe the introduction to the new feature would help Mark Zuckerberg to bring Meta back on track.

The future of NFTs is promising

Metacon X NFT Seoul, one of the two conferences at the Seoul Meta Week 2022 event, started today and will delight Metaverse and NFTs enthusiasts with two days of exclusive talks.

This international event program will share ideas and information on emerging trends and future strategies related to Blockchain technology, DeFi, Metaverse, NFTs, and Web3.

Leading International companies will share innovative projects about the digital world of tomorrow:

•    Nvidia: "The Future of Shared Virtual Worlds".
•    Sandbox: "Asset digitization and the rise of NFT".
•    Samsung: "The case for retail metaverse – Samsung Electronics KO".

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