As the world is going towards a virtual world Facebook- Meta is introducing NFTs on Facebook and Instagram for users to make a profit.
This news comes when Meta CEO Mark Zuckerberg declared the development. This will enable users to develop, display, and sell their no-fungible tokens (NFTs).
Already NFT Marketplace is under beta state on Facebook and Instagram.
If this comes to full functionality, many musical artists, designers, and online creators will be creating their NFTs to sell.
This opportunity will make many creators rich if you ask me. Why so, the creator will have the copyright of their NFTs.
As Adams Mosseri, the Instagram chief said recently, how Instagram is “actively exploring NFTs and how we can make them more accessible to a wider audience.”
While already, the Financial times reportedly said social media conglomerate Meta is exploring plans to allow users to create branded NFTs (digital assets).
Display and sell to the general public. That means, you as a digital creator will have full control of your NFTs as regard buying and selling them.
While I was making research on this article, I stumble upon several NFTs groups and marketplace on Facebook.
Where you can mint, display, and sell NFTs on the marketplace.
Even Facebook NFT will open doors for creators to make money. It means it is going to be a massive mainstream breakthrough for creators.
What is NFT?
It is a non-fungible token or digital asset made by online creators.
Like digital artwork, graphic design, classical pictures on JPG, PNG, logos, GIF, Cartoon, GIF, avatars, games, and more using unique designs on the blockchain.
They are unchangeable digital assets to hold many things.
Sometimes these assets are duplicated and sold by others without any prior knowledge of real owners.
“But if companies start enforcing ownership rights as signifying by NFTs, they could become legitimate digital assets.”
If Meta initiates the NFT marketplace to over 3 billion audiences; it will encourage you the digital creator to mint digital assets, showcase, and sell.
At the same time, you’re protected from piracy Meta will help your digital assets appreciate over time
How Meta To Introduce NFTs for Facebook And Instagram soon
From my perspective, the Meta-Facebook parent company will create a profile NFT image feature for users. To display your digital asset.
The next line of action will be creating NFTs minting features for you to easily mint artwork or NFT. The biggest of all will be the NFTs marketplace to monetize digital assets for money will meta will have its share of sales you make.
With this process, founders like you can equally have the right to their digital assets.
The digital wallet may likely be a Novi wallet unless a different plan is made.
Since Novi wallet is now at the beta stage on WhatsApp like I wrote in my previous blog post.
From Facebook and Meta team members said it.
“A lot of the supporting functionality relating to Novi will be powering the NFTs.”
“NFTs are unique and unchangeable — that’s what nonfungible means. They are digital assets that can hold any type of media, from pictures to videos to data and even smart contracts
Related read: WhatsApp Launches Cryptocurrency Payment for Users – Novi App
Aside from storing the media, the tokens are traceable on the blockchain, providing proof of provenance.” – PYMNTS
Uses Of NFTs By Creators
- NFTs is used for video games by Blockchain decentralized merchant
- Digital token on the Crypto market
- Media artworks by creators
- Avatar in the Blockchain technology game video
- Buying and Selling on Digital Marketplaces
- Use as a payment method for digital assets
This is what Meta wants to introduce NFTs to Facebook and Instagram for users.
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