The NFT trend isn’t going anywhere, and it might soon become a big part of social media platforms. Meta has set goals for entering the $40 billion NFT industry. The tech giant plans to help users create and sell digital collectibles and allow to display NFTs on Facebook (NASDAQ:FB) and Instagram accounts.
The teams from Meta are working on features that will enable users to show off NFTs on their social media profiles, as well as allow users to mint and own NFTs, using the company’s Novi wallet.
Financial Times reported that Meta’s move to embrace NFTs came from Mark Zuckerberg’s comment that “NFTs could one day be wielded to support a market for digital goods in its planned metaverse.”
On the Flipside
- The developments are still at the early stage and are subject to change.
- Investing in NFTs is risky, as the industry is affected by scammers and based on speculation.
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