The Mark Zuckerberg-led business has began its nonfungible token (NFT) rollout across 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas, according to a Meta press article published on Thursday. This includes adding support for Coinbase Wallet and Dapper wallet connections, as well as the ability to upload digital items created on the Flow blockchain. The first launch is aimed at the popular social networking app Instagram.
To publish an NFT, just link your digital wallet to Instagram, according to the company’s revised page. Third-party wallet connections with Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet are either finished or on their way. Ethereum, Polygon, and Flow are currently supported blockchains. Posting or sharing a digital collectable on Instagram is free of charge.
Flow is a layer-1 blockchain that uses the FLOW token as a means of payment for network membership, transactions, and governance. Warner Music, Ubisoft, the National Basketball Association, the Ultimate Fighting Championship, Animoca Brands, Circle, Binance, OpenSea, and now Meta are among the notable ecosystem partners.
Along with the metaverse, digital assets seem to be one of Meta’s primary growth components. The company’s sales dipped 1% year on year to $28.8 billion in the second quarter of 2022, while operating income plummeted 32% to $8.36 billion in the same time. CEO Mark Zuckerberg said that he was unconcerned with the company’s $2.8 billion loss in its Metaverse subsidiary, and that there was a possibility to gain “hundreds of billions,” if not “trillions,” of dollars as the industry matured.