Table of Contents
- Continuing Its Digital Arts Initiative
- Third-Party Wallet Support
- Sharing Your NFTs
- Privacy Concerns Remain
Facebook And Instagram’s parent company, Meta, has announced that users of both social media platforms can now connect their wallets and share their NFTs.
Users in the U.S. can also crosspost their NFTs across Facebook and Instagram.
Continuing Its Digital Arts Initiative
As of 29th September 2022, Facebook and Instagram users can connect wallets and share NFTs after parent company Meta rolled out the feature in over 100 countries. The feature, which has been in testing since May, will also allow users to tag creators and collectors and crosspost their NFTs between the two platforms without incurring any extra fees.
The company had announced NFT support on Instagram in August, rolling out the feature in 100 countries but with select users only. With the new announcement, all users can access the new features.
Meta announced the new features in a statement released on Twitter, stating,
“Everyone on @instagram and @facebook can now share their digital collectibles in the U.S. and on Instagram in the previously announced 100+ countries. Creators like artist Lívia Elektra are sharing their #NFTs on our apps.”
Third-Party Wallet Support
Meta has also added third-party wallet support, allowing users to select between wallets such as MetaMask, Trust Wallet, Coinbase Wallet, Dapper Wallet, and Rainbow. Additionally, it has also added support for Ethereum, Polygon, and Flow blockchains. Sharing your NFTs on Instagram and Facebook is a relatively straightforward process.
First, users have to make sure they have the latest version of the respective apps installed on their devices. Then, they are required to ensure that the wallet of their choice is also installed on their device. Once users have logged into Facebook or Instagram, they can connect their preferred wallet through the “digital collectibles” tab in the settings menu.
According to Meta, once these steps have been completed, users will be prompted to enter their wallet password and then follow the on-screen instructions that follow. Users will then be prompted to sign and confirm the wallet connection.
Sharing Your NFTs
Once the wallet is connected, users can view their NFTs in their wallet from within the Facebook and Instagram applications. They will also be able to share their NFTs to their feed through posts, which will now have a new collectible section to select the NFT from. Alternatively, users can also share their NFTs directly from their wallet to their feed by selecting the “share to feed” option.
Users can also add a caption to their NFT before posting it. According to Meta, NFT posts will have a shimmer effect, allowing them to stand out from regular posts on the feed. It also stated that users would not have to pay any fee for posting or sharing digital collectibles on Facebook and Instagram.
Privacy Concerns Remain
Not all users are convinced. Several prominent users on crypto Twitter expressed significant concern around the safety and privacy of data that would be transmitted to Meta by connecting digital wallets to the platform. Meta had faced a hack as recently as April 2021, when personal information of over half a billion Facebook users was leaked. NPC-Picac, A Web 3.0 community member, reminded users of all the data leaks Facebook had faced and tweeted,
“I don’t think entrusting digital collectibles to connect to ‘Meta’ is in any way smart.”
Other users also raised concerns, wondering what Meta could do with the data and information they access from digital wallets belonging to users, stating,
“So they can figure out which wallets are yours and keep tabs on you and your crypto activities? This is worse than the government iwo.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Investment Disclaimer