{"id":8861,"date":"2022-02-27T19:30:30","date_gmt":"2022-02-27T19:30:30","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/nfts-might-reach-facebook-instagram-as-meta-mulls-nft-marketplace-report\/"},"modified":"2022-02-27T19:30:31","modified_gmt":"2022-02-27T19:30:31","slug":"nfts-might-reach-facebook-instagram-as-meta-mulls-nft-marketplace-report","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/nfts-might-reach-facebook-instagram-as-meta-mulls-nft-marketplace-report\/","title":{"rendered":"NFTs Might Reach Facebook &#038; Instagram as Meta Mulls NFT Marketplace &#8211; Report"},"content":{"rendered":"<div>\n<figure class=\"image\"><figcaption>Source: Adobe\/natanaelginting<\/figcaption><\/figure>\n<p>\u00a0<\/p>\n<p><strong>Facebook<\/strong> and <strong>Instagram<\/strong>-owner <strong>Meta<\/strong> is reportedly working on its own plans for allowing users to create, trade, and display non-fungible tokens (NFTs) from their social media platforms.<\/p>\n<p>The plans, which have yet to be confirmed, are likely to involve a new feature that would let users display NFTs they own on their Facebook and Instagram profiles, the Financial Times reported today, citing unnamed several people \u201cfamiliar with the matter.\u201d<\/p>\n<p>According to two sources, the plans also involve a marketplace for trading NFTs among users, as Meta seeks to challenge the massive dominance NFT marketplace <strong>OpenSea<\/strong> has in the space. Among other things, OpenSea has been criticized by the community for its 2.5% commission fee on trades and a high degree of centralization.<\/p>\n<p>The report from the Financial Times stressed that Meta\u2019s NFT plans are still at an early stage, and could change.<\/p>\n<p>The report today follows comments from Instagram head Adam Mosseri in December, saying the popular social media platform was \u201cactively exploring NFTs,\u201d and that they were looking into making them \u201caccessible to a broader audience.\u201d<\/p>\n<p>According to one source, Instagram\u2019s NFT project was initially led by David Marcus, the head of Facebook\u2019s Libra\/Diem stablecoin project, and Kristin George, director of product and creators at Instagram. After Marcus left the company in December, however, his role has been taken over by Stephane Kasriel, freelancing platform <strong>Upwork<\/strong>\u2019s former CEO.<\/p>\n<p>Facebook\u2019s own digital wallet <strong>Novi<\/strong> is likely to be an important part of the company\u2019s NFT plans, several sources said, with one person noting that \u201ca lot of the supporting functionality relating to Novi will be powering the NFTs.\u201d<br \/>____<br \/><strong>\u00a0<\/strong><br \/>&#8211; Exec Wants Meta to Look to NFT, DAO and Blockchain Expansion Next Year \u2013 Report<br \/>&#8211; This Is How Meta Might Make Money in Metaverse<\/p>\n<p>&#8211; NFTs in 2022: From Word of the Year to Mainstream Adoption &amp; New Use Cases<br \/>&#8211; Top 20 NFT Marketplaces Where You Can Buy &amp; Sell Digital Collectibles<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Source: Adobe\/natanaelginting \u00a0 Facebook and Instagram-owner Meta is reportedly working on its own plans for allowing users to create, trade, and display non-fungible tokens (NFTs) from their social media platforms. The plans, which have yet to be confirmed, are likely to involve a new feature that would let users display NFTs they own on their [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-8861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NFTs Might Reach Facebook &amp; Instagram as Meta Mulls NFT Marketplace - Report | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/nft\/nfts-might-reach-facebook-instagram-as-meta-mulls-nft-marketplace-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NFTs Might Reach Facebook &amp; Instagram as Meta Mulls NFT Marketplace - Report | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Source: Adobe\/natanaelginting \u00a0 Facebook and Instagram-owner Meta is reportedly working on its own plans for allowing users to create, trade, and display non-fungible tokens (NFTs) from their social media platforms. 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