Meter Instagram Partners NFT Push with Polygon – The Defiant.

Instagram users will be able to post and share NFT as early as this week.

The Meter NFT initiative will be powered by Ethereum Layer 2 Scaling Solutions, Polygon and will be available to selected manufacturers, the company revealed in a video posted by CEO Mark Zuckerberg.

Zuckerberg says the social media giant will start with Instagram and then move on to Facebook, possibly including a few lines from other Meta products. He also mentioned the creation of augmented reality NFT for Instagram stories through Spark AR, a meta-owned augmented reality effects software.

NFTs have become a multi-billion dollar industry, selling for B 41B, according to ChannelIlysis. Now 3.64 billion monthly users of Meta will have access to this explosive corner of the crypto, potentially adding fuel to the already explosive market.

“We wanted to start small and learn from the community.” Explained Adam Moseri, head of Instagram. “Web 3 is about trust and power distribution, but Instagram is basically a centralized platform so there’s excitement.”

The move follows a busy week in the crypto and NFT markets. It also follows widespread criticism of Horizon World’s recent plan to keep 47.5% of each individual NFT sales on its Metavers platform. It is unknown at this time what he will do after leaving the post.

In January, meta-competitor Twitter enabled hexagonal proprietary verified NFT profile pictures for their Twitter Blue subscribers. Although Twitter has not released statistics on Twitter Blue users, it has become a popular trend across tech Twitter. Many are quick to criticize the move of the meter in crypto, but there is no alternative.

“It’s a no-brainer,” Super Rare founder John Crane told The Defiant. “Their original business model did not enable creatives to monetize their content directly around them and the NFT has completely changed that. They’re in a situation where it’s been invented or obsolete. ”

Although the NFT market has been declining with crypto, many are bullish on NFT.

“2021 may be the year of the NFT, but 2022 is probably the year we’re going to be mainstreaming for the general public,” the Web3 designer tweeted. The work is done.

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