The world of crypto may be down but that’s not stopping so many leading tech firms from carrying on with their exploration of digital collectibles.
Snapchat is taking the lead in this endeavor by allowing different artists to come forward and showcase their digital talent via AR filters across the app.
A new report by the Financial Times stated how the company is more excited than ever about this new exploration and adventure. For now, the project is limited to a small number of creators but there’s no reason why we don’t see it expanding further in the near future. Who knows, by then, the world of crypto would be making head waves again.
The testing will reportedly begin next month and here is where artists are being given the chance to produce NFTs and gain money from them too via other apps. Similarly, they’ll be given the great chance to transfer them over to Snap as Lenses.
For now, the report from the Financial Times stated that Snap isn’t planning on taking any funds from creators to showcase the unique collectibles. And that’s very similar to how other leading tech giants like Twitter, Facebook, and Instagram are behaving.
Instead, Snapchat is planning to think outside the box and search for different ways by which various artists involved in the project can make money from their hard work and efforts.
Since day one, we’ve been seeing a number of platforms on social media resorting to various means to design NFTs. And that just goes one step ahead in leveraging and making the most of the dynamics seen across the apps.
In case you didn’t know, one of the first platforms to get on board with this endeavor was Twitter whose NFT train really turned heads as it revealed that it would be allowing NFTs to be used as digital avatars by those with Blue Subscriptions.
In May of this year, we heard more news about how the app was willing to enable some creators to showcase their digital designs as a part of their feeds or perhaps to highlight their presence on stories or even messages.
In June, Facebook also began experimenting with the idea and allocated a limited number of selected users based in the US to come ahead and test the project. Similarly, just last week, social media app Reddit came forward and released its own NFTs for users.
Reddit is allowing its users to purchase such digital collectibles at fixed rates via normal currency.
It’s quite obvious that Snapchat would be facing its toughest competition from Meta in this themed project as the latter has unveiled mega plans to introduce them into its ‘real world’ with assistance and support through its AR technology.
At the same time, Meta’s spokesperson also spoke to Financial Times during a recent interview where they confirmed how the company was willing to make a marketplace for such endeavors which can be used in the Metaverse.
The news about Snap’s new project appears to be planned in a strategic manner as it arises just a few days post the launch of Snapchat’s paid subscription plan.
Read next: Snapchat Launches Its Paid Subscription Plan For Users In Search Of Exclusive Features
Snapchat is taking the lead in this endeavor by allowing different artists to come forward and showcase their digital talent via AR filters across the app.
A new report by the Financial Times stated how the company is more excited than ever about this new exploration and adventure. For now, the project is limited to a small number of creators but there’s no reason why we don’t see it expanding further in the near future. Who knows, by then, the world of crypto would be making head waves again.
The testing will reportedly begin next month and here is where artists are being given the chance to produce NFTs and gain money from them too via other apps. Similarly, they’ll be given the great chance to transfer them over to Snap as Lenses.
For now, the report from the Financial Times stated that Snap isn’t planning on taking any funds from creators to showcase the unique collectibles. And that’s very similar to how other leading tech giants like Twitter, Facebook, and Instagram are behaving.
Instead, Snapchat is planning to think outside the box and search for different ways by which various artists involved in the project can make money from their hard work and efforts.
Since day one, we’ve been seeing a number of platforms on social media resorting to various means to design NFTs. And that just goes one step ahead in leveraging and making the most of the dynamics seen across the apps.
In case you didn’t know, one of the first platforms to get on board with this endeavor was Twitter whose NFT train really turned heads as it revealed that it would be allowing NFTs to be used as digital avatars by those with Blue Subscriptions.
In May of this year, we heard more news about how the app was willing to enable some creators to showcase their digital designs as a part of their feeds or perhaps to highlight their presence on stories or even messages.
In June, Facebook also began experimenting with the idea and allocated a limited number of selected users based in the US to come ahead and test the project. Similarly, just last week, social media app Reddit came forward and released its own NFTs for users.
Reddit is allowing its users to purchase such digital collectibles at fixed rates via normal currency.
It’s quite obvious that Snapchat would be facing its toughest competition from Meta in this themed project as the latter has unveiled mega plans to introduce them into its ‘real world’ with assistance and support through its AR technology.
At the same time, Meta’s spokesperson also spoke to Financial Times during a recent interview where they confirmed how the company was willing to make a marketplace for such endeavors which can be used in the Metaverse.
The news about Snap’s new project appears to be planned in a strategic manner as it arises just a few days post the launch of Snapchat’s paid subscription plan.
Read next: Snapchat Launches Its Paid Subscription Plan For Users In Search Of Exclusive Features
