If the world of nonfungible tokens happens to be your subject of interest then this next update about Facebook launching new display options for NFT is sure to excite you.
The company recently unveiled how it’s making sure the hype surrounding NFT does not die down and if that means launching a new update in this regard, then so be it.
Users will now be able to make a series of customized posts related to the NFT theme as recently confirmed by Meta’s product manager. Moreover, the posts can be tagged with the label, ‘Digital Collectible’. But wait, the magic does not end there.
Users will also be given the opportunity to get an entire section on their profiles dedicated to NFT where they can display their non-fungible artwork displays too.
You can see Facebook following in the footsteps of Instagram who also decided to venture out into the world of NFT and its support program last month.
After clicking on any particular NFT design or display, users will be given the chance to see the true owner of the artwork, who the creator was, and also a small description of what the piece is all about.
Thankfully, users don’t need to worry too much about the details as they’re all accurately mentioned across the public blockchain. This also is related to the simple fact that the app is providing support for a number of huge exchanges in the field, where NFT owners can connect a series of their accounts to help verify who the NFT really belongs.
The only catch here is making sure if the exchanges or the tools are continually in operation.
For now, NFTs and a number of similarly themed projects related to the world of crypto are going through their own phase of decline or downturn. These are true reflections of the ongoing economic trends but let’s face the reality, financial products are suffering the worse hit.
New reports that detail Google Trends reflect how the world’s interest in NFTs has shown a major decline and according to a new study by the Wall Street Journal, NFT sales have fallen by more than 92% in the past year.
A lot of consumers have also expressed their lack of trust in the financial product as a golden investment opportunity. And that is related to the great number of scams and exploitation scandals in the recent past.
On average, people have lost a lot of money and just the whole NFT theme is slowly waning.
Whatever the case may be, Meta is viewing NFTs as a wonderful stepping stone in terms of its hyped-up shift for the metaverse. And that is why it’s keener now than ever to move ahead with more NFT-related products, keeping aside what people really view NFTs as.
This could also be one of the major reasons why Meta is conducting trials with the NFT market, which would end up assisting virtual product sales across its apps.
Read next: Facebook is facing a financial crisis and they should become more methodical to fight them—Meta Executive
The company recently unveiled how it’s making sure the hype surrounding NFT does not die down and if that means launching a new update in this regard, then so be it.
Users will now be able to make a series of customized posts related to the NFT theme as recently confirmed by Meta’s product manager. Moreover, the posts can be tagged with the label, ‘Digital Collectible’. But wait, the magic does not end there.
Users will also be given the opportunity to get an entire section on their profiles dedicated to NFT where they can display their non-fungible artwork displays too.
You can see Facebook following in the footsteps of Instagram who also decided to venture out into the world of NFT and its support program last month.
After clicking on any particular NFT design or display, users will be given the chance to see the true owner of the artwork, who the creator was, and also a small description of what the piece is all about.
Thankfully, users don’t need to worry too much about the details as they’re all accurately mentioned across the public blockchain. This also is related to the simple fact that the app is providing support for a number of huge exchanges in the field, where NFT owners can connect a series of their accounts to help verify who the NFT really belongs.
The only catch here is making sure if the exchanges or the tools are continually in operation.
For now, NFTs and a number of similarly themed projects related to the world of crypto are going through their own phase of decline or downturn. These are true reflections of the ongoing economic trends but let’s face the reality, financial products are suffering the worse hit.
New reports that detail Google Trends reflect how the world’s interest in NFTs has shown a major decline and according to a new study by the Wall Street Journal, NFT sales have fallen by more than 92% in the past year.
A lot of consumers have also expressed their lack of trust in the financial product as a golden investment opportunity. And that is related to the great number of scams and exploitation scandals in the recent past.
On average, people have lost a lot of money and just the whole NFT theme is slowly waning.
Whatever the case may be, Meta is viewing NFTs as a wonderful stepping stone in terms of its hyped-up shift for the metaverse. And that is why it’s keener now than ever to move ahead with more NFT-related products, keeping aside what people really view NFTs as.
This could also be one of the major reasons why Meta is conducting trials with the NFT market, which would end up assisting virtual product sales across its apps.
Read next: Facebook is facing a financial crisis and they should become more methodical to fight them—Meta Executive
