Meta reportedly will join the plunge into the world of NFT. The tech giant is claimed to be developing ways to create, showcase and sell NFTs on Facebook and Instagram.
Based on a report by The Financial Times, this plan is still in its early stages and may undergo changes. A source said if this plan becomes a reality, the Novi digital wallet will support this project.
The Financial Times report says teams at Facebook and Instagram are working on a feature that will allow users to set NFTs as their profile photos, as well as developing prototypes that will allow users to create new NFTs.
Another team at Meta is also reportedly discussing plans to launch a special marketplace for buying and selling NFTs, as quoted from The Verge, Friday (21/1/2022).
It is not yet known how far the development of the NFT project in Meta is. But some of their higher-ups have already expressed their interest in NFT.
Head of Instagram Adam Mosseri last month said he was actively exploring NFT and looking for ways to make it more accessible to a wider audience. Meanwhile, Meta CEO Mark Zuckerberg also once said how the metaverse requires the support of digital goods ownership or NFT.
If this Meta plan becomes a reality, it will become the biggest mainstream endorsement for NFT, and help solidify the position of this controversial digital asset in the world.
For Meta, entering the NFT world will also help them to strengthen their influence in the metaverse world. Meta will probably need a framework for NFT so that residents of the metaverse can trade unique digital assets.
This move could also be Meta's way of preventing third-party platforms like OpenSea and Rarible from strengthening their dominance in the market if NFT proves to be not a short-term trend.