Social media giant Meta (FB) has started to test Polygon and Ethereum-based non-fungible tokens (NFTs) among a selected group of creators on Facebook, according to Meta’s Product Manager Navdeep Singh.
- Singh posted a series of screenshots of the update, which includes a “digital collectibles” tab that will allow Facebook users to showcase NFTs on their profile page.
- In May, Meta made its first foray into NFTs by testing NFT integrations on Instagram.
- “We’re expanding our test so more creators around the world can display their NFTs on Instagram,” Meta CEO Mark Zuckerberg said on June 21. “We’ll bring this feature to Facebook soon too – starting with a small group of U.S. Creators – so people can cross-post on Instagram and Facebook.”
- The NFT market is experiencing a downturn alongside a lull in the wider crypto market. NFT trading volume on OpenSea during June was its lowest in 11 months, according to Dune Analytics.
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