The battle for the future of social networking continues to intensify, with new features and functionality being introduced regularly. In the latest development, Facebook and Instagram users in the United States can now share Ethereum-based, flow, and polygon non-fungible tokens (NFTs) on their respective platforms. This news comes just a few weeks after it was revealed that social media giant Facebook was exploring ways of integrating blockchain technology into its services. The company’s recent announcements regarding its plans to integrate the ethereum blockchain have led many commentators to speculate if this is part of a grander scheme to take on competitors like TREND and WeChat with a proprietary currency ecosystem. With so much attention focused on how these leading social networks are accommodating digital assets, it’s worth asking: How does this impact the market for NFTs? Let’s dive in and explore what these developments mean for users, influencers, developers and businesses…
Facebook Allows Users to Share Ethereum NFTs
Facebook users can now share an Ethereum NFT token hosted on the Enjin wallet. The newly introduced functionality will enable Facebook users to share their Enjin-powered ERC-1155 items on their Facebook feed. The Enjin-powered ERC-1155 blockchain-based assets can be used in online games and on social media and are completely interoperable with other Ethereum-based assets. Users who want to share their assets on the platform must first upload them to their Enjin wallets and select the “share” button. They can then select their Facebook friends to share the assets with. By integrating the Ethereum blockchain, Facebook users will be able to use ERC-1155-based assets to play games, interact with other members of the social media platform and use them in their everyday lives.
Instagram Allows Users to Share Polygon and Flow NFTs
Just like it did with the Ethereum NFTs, Instagram now allows users to share polygon and flow NFTs. The development of this new feature comes after the announcement made by Instagram that it was looking to expand the use of AR and VR technologies. After the announcement, Instagram opened the application process for augmented reality developers. Instagram users can now share polygon-based and flow-based NFTs by uploading them to the platform’s built-in camera. The flow-based NFTs can be used as AR stickers that users can place in their pictures and videos. They can also be used to create interactive artwork. The polygon-based NFTs can be used as 3D objects that users can place in their pictures and videos. They can also be used to create 3D artwork.
Polygon is an ERC-721 Based NFT You Can Now Share on Instagram
The polygon-based NFTs are ERC-721-based tokens. They can be used in games, apps and websites. They can also be used as stickers. With the release of the new Instagram feature, users can now share their polygon-based NFTs on their Instagram stories. Users can also use their polygon-based NFTs to create interactive artwork. The polygon-based NFTs are available on the OpenSea marketplace.
Flow is an ERC-1184 Based NFT You Can Now Share on Instagram
The flow-based NFTs are ERC-1184-based tokens. They can be used in games, apps and websites. They can also be used as stickers. With the release of the new Instagram feature, users can now share their flow-based NFTs on their Instagram stories. Users can also use their flow-based NFTs to create interactive artwork. The flow-based NFTs are available on the OpenSea marketplace.
The integration of the Ethereum blockchain by Facebook and the introduction of the flow and polygon-based NFTs by Instagram represent an important step forward for the NFT market. By providing ways for Facebook and Instagram users to share these assets, social media platforms are creating an entirely new way to interact with NFTs. Facebook and Instagram users can now create, trade, collect and make purchases using their social media accounts. These developments are expected to make the NFT market more accessible and popular. With strong interest from the leading social media networks, the NFT market is likely to grow significantly in the coming years.