Meta, formerly known as Facebook, is reportedly dipping its toes into the world of non-fungible tokens (NFTs) by incorporating a brand-new feature that allows users to display their acquired NFTs on their Facebook and Instagram accounts. According to the report, the multinational tech conglomerate is developing prototypes that can easily let users mint collectible tokens.
Other than that, Meta is also considering developing and launching an NFT marketplace, allowing interested users to buy and sell non-fungible tokens quickly. While news of these ongoing projects may excite the countless NFT supporters out there who also use Meta’s social media platforms, they are currently in the earliest possible stages. We have yet to determine which features will stay and go.
These new discussions came after Meta pushed to bring in more staff to help with its projects. On January 12, Meta fished about 100 employees from Microsoft, while Apple offered bonuses and better benefits to prevent their staff from jumping ship.
Meta used to be known as Facebook, but thanks to its sudden major rebranding last year, it can focus on projects and initiatives outside of social media. For instance, last year, the tech conglomerate announced that it had plans to create a metaverse that intertwines physical and online experiences. Not only that, but Meta is also currently working on creating haptic gloves, which will come in handy once its metaverse is ready.
The number of potential earnings a company can make thanks to NFTs is now impossible to ignore, which is why so many individuals and institutions have joined the NFT wagon. Many firms believe that traditional brands will also begin to dip their toes into the world of NFT, exploring the various ways they can earn from there.
In other news, the monthly transaction volume of major NFT marketplace Opensea recently exceeded $3.5 billion. In other words, the marketplace sees more than $169 million spent on NFT trading within the platform alone.