meta in a file photo
credits: CNBC

Facebook and Instagram to allow users to connect crypto wallets

Facebook and Instagram are two of the most used social media platforms. They have billions of active monthly users, which makes this announcement a really big deal. Meta, the parent company of Facebook and Instagram, announced that they would soon allow users to connect crypto wallets to their accounts. It was an update to their NFT features on this platform. The idea is to allow users to share their NFTs with their friends and followers directly via the platform.

Facebook and Instagram’s new feature

A similar NFT update was pushed on Instagram quite a while back. However, it was not available in all countries. So, this new update is also limited to the 100 nations where the first digital collectibles feature was available. NFTs are an essential part of the metaverse, so this also goes in line with Meta’s future plans. It seems that Instagram and Facebook will become incredibly important for Meta to offer unique crypto experiences to their audience. It will also allow creators to earn directly without the involvement of a 3rd party.

Facebook and Instagram to allow users to connect crypto wallets

The feature has worked well on Instagram so far, so it’s obvious that Meta is rolling it out to other platforms as well. Talking about the new update, the company made a statement saying, “At Meta, we’re looking at what creators are already doing across our technologies in order to improve the experience, help them create more monetization opportunities, and bring NFTs to a broader audience.”

Connect with your crypto wallets to Facebook and Instagram now

The very first thing you gotta check is whether the feature is even supported in your region. As I said above, not all countries support it yet, which is a shame. I am pretty sure as regulatory clarity comes, Meta will roll it out to more nations. Once you check for that, see if the blockchain network and 3rd party wallet you use are supported. Right now, Ethereum, Polygon, and Flow network are supported. While on the wallet side, Metamask, Trust, Coinbbase, and Dapper wallet are supported. Then you can explore the digital collectible option on their app and connect your wallets.

What are your thoughts as Facebook and Instagram plan to allow users to connect crypto wallets? And do you think this is a major update? Let us know in the comments below. And if you found our content informative, do share it with your family and friends.

Also Read: Cybercriminal group arrested for suspected laundering of $5.6 billion.