Following the successful completion of the testing phase, social media giant Meta has finally begun rolling out its NFT feature. The news was confirmed in a Thursday announcement via its official Twitter page. According to the tweet, the NFT feature is now live in 100 countries spread across Africa, America, the Asia-Pacific (APAC), and the Middle East regions. However, the roll-out is only for Instagram at the moment. That is, Instagram creators and businesses based in the regions earlier mentioned, may now display their NFTs on the platform.
NFT feature part of metaverse plans?
For Meta, the NFT feature is only a step forward in the grand scheme of things to come. And it will not be limited to Instagram alone. In July, the product manager of Meta, Navdeep Singh hinted that the same feature will be extended to Facebook. At the time, Singh confirmed that testing had already begun for Facebook as well.
Interestingly, Meta CEO, Mark Zuckerberg, also recently revealed that the long-term plans of the firm borders around combining NFTs with the metaverse. And with the fast-paced NFT plans, it might not be an overreach that there’s a possibility of the company launching its NFT marketplace sometime later.
Coinbase Wallet and a few other integrations
In addition, Meta also announced that it has added support for Coinbase Wallet and the Flow blockchain. The announcement read in part:
“Additionally, we now support wallet connections with the Coinbase Wallet and Dapper, as well as the ability to post digital collectibles minted on the Flow blockchain.”
This brings the number of blockchains supported by Meta’s NFT integration to three. They include Ethereum, Polygon, and now Flow. Users may also connect their digital wallets such as MetaMask, Rainbow, Dapper Wallet, Trust Wallet, and Coinbase Wallet to Instagram.
As of writing, Meta’s share has jumped excitedly as the price is up 1.76% in 24 hours, trading at $170. Coinbase token (COIN) is also up over 8% in the last 24 hours. But that may be a result of its fresh partnership with asset manager BlackRock (BLK).