META PLATFORMS AND NFTS BY NFT CRITICS
Facebook recently rebranded itself as Meta along with Instagram and thinks metaverse is the future. The integration allows people to bid for NFTs directly on Instagram. Hence, Instagram’s incursion into the NFT space, a virtual asset, does not come as an astonishment.
“We are actively studying NFTs and how we can make them available to a wider audience,” Instagram’s CEO said.
Instagram has earlier hosted a panel for NFT creators to lure talent to its business. It is growing its platform to support NFT trading and renders substantial revenues from the fastest-growing asset in the cryptocurrency fad.
Instagram is scrutinizing for a way to bring NFTs to its social networking medium. Like its parent organization, Meta makes a push into the metaverse. While these one-of-a-kind digital acquisitions are prevalent as modern-day art or video collectables, they are also a digital key to unlocking a metaverse, as they can fetch ownership within a virtual world.
Twitter boss, Jack Dorsey, sold his first tweet as an NFT for more than $2.9 million. Twitter is studying the crypto universe and sustaining NFT trading. Artists can use the medium to secure their crypto wallets, take payments directly through Twitter, and take tips in cryptocurrencies like Bitcoin, Ethereum or crypto wallet apps.
