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  5. Meta expands for NFT support on Instagram

Meta expands for NFT support on Instagram

Meta expands for NFT support on Instagram

Mark Zuckerberg, the CEO of Meta, claims that the company is beginning to integrate non-fungible tokens (NFTs) on its social media platform Instagram internationally.

The expansion came after the initial NFT test launch for the social network in May. Thanks to this extension, people and organisations will be able to share their NFTs on Instagram in more than 100 nations across Africa, Asia-Pacific, the Middle East, and the Americas.

Only a few authors in the US had access to the support prior to the extension. Additionally, the business declared that the use of third-party wallets Coinbase Wallet and Dapper Wallet is now supported.

Instagram users can share NFTs, link a digital wallet, and immediately tag a creator and a collector for credit by using the NFT feature. Instagram also includes Flow in its list of blockchains that it supports.

Users can share NFTs in their Instagram stories, direct feed, or messages. When they publish a digital collectible, it will have a glimmering effect and be able to provide open data like an explanation of the NFT.

Users must link their digital wallet to Instagram in order to submit a digital collectible.

The world’s largest cryptocurrency exchange, Coinbase (COIN), has blamed a swift and severe decline in the cryptocurrency markets for its stunning $1.1 billion significant deficit in the second quarter of 2022, which also experienced a decline in trading volume and transaction income.

The cryptocurrency company has lost money for the past two quarters in a row, and this one marks the biggest loss since its Nasdaq Stock Exchange listing.

Despite the economic crisis, Coinbase stated that the business is making every effort to adapt to shifting market conditions.

The overall trading volume and mean transaction revenue per user are expected to continue to decline, according to the business. However, it stated that it might experience modest income growth from service and subscription costs.

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