Facebook and Instagram to Allow Users to Create and Sell NFTs: Report

The growing in popularity sector of non-fungible tokens has reached Meta and its two large social media platforms – Facebook and Instagram. A recent report outlined that both parties are looking into a way to allow users to create and sell NFTs.

Citing people familiar with the matter, the Financial Times outlined Meta’s plans to enter the NFT space.
Both social media platforms – Facebook and Instagram – are developing features that will enable their multi-billion userbase to create and sell non-fungible tokens.
Additionally, they will be able to display NFTs on profiles as well as eventually mint digital collectibles.
Future Meta plans include launching its own marketplace, but the sources claimed that this one could change as it’s in an early stage.
Non-fungible tokens have skyrocketed in popularity in the past year or so, garnering the attention of people and businesses from almost every industry.
This pushed numerous companies, usually from within the crypto space, to launch NFT marketplaces of their own, including, most recently, Coinbase and Bybit.
However, becoming a multi-billion dollar market seems enough to get the attention of giants from outside of crypto, such as Meta.