In a special announcement made by Meta, Facebook's parent company, the firm announced that it's already planning to introduce Facebook profile picture NFTs but how will they work?
The new Facebook NFT picture rollout will be first available for select FB users in the US. Let's dive in more to find out what exactly the Facebook NFT feature means for the masses.
Does Facebook Support NFTs?
The answer is yes. Meta, the parent company of Facebook has recently launched digital collectable support for Facebook.
In conversation with TechCrunch, a spokesperson from the Meta company stated that they have commenced a slow rollout of the Facebook NFT feature and that it will be made available to select US users first.
With the help of the new NFT feature, the Meta/Facebook influencers will be able to flaunt their NFTs on Facebook, categorised under the "Digital Collectibles'' tag.
Furthermore, Navdeep Singh, product manager at Meta had also unveiled the screenshots of the Facebook NFT debut earlier on June 30.
The NFT mechanism launched by Facebook is very much similar to the methodology used to launch NFTs on Instagram.
Users will be able to click on NFT pictures to learn more about their origin and purchase history. The users will also be able to cross their NFTs on Instagram, and vice versa.
Per the TechCrunch report, users will be not be charged any fee while uploading their NFTs as profile pictures.
Along the lines, the company further noted that it won't offer the "ability to turn digital collectibles into ads for now."
Mark Zuckerberg, CEO of Meta had earlier publicly expressed his desire to work towards bolstering Web3.
In an announcement made by Zuckerberg on June 21, the Meta CEO noted that the company will soon be launching new monetising tools on Facebook alongside introducing NFTs on Facebook. He said:
We're expanding our test so more creators around the world can display their NFTs on Instagram. We'll bring this feature to Facebook soon too – starting with a small group of U.S. creators – so people can cross-post on Instagram and Facebook.
Furthermore, Meta's CEO Mark Zuckerberg has unveiled fresh new details concerning its much-awaited Instagram NFT feature.
The firm is now ready to roll out its highly anticipated NFT feature in nearly 100 countries.
Per the updated blog, Facebook NFT functionality is now live for the users to explore and experiment with.