Meta plans to integrate NFT functionality in Facebook and Instagram avatars

According to reports, Meta plans to integrate to allow its social media users to showcase their NFTs on Facebook and Instagram. Meta is also discussing the possibility of launching a marketplace for NFT exchanges.

Multinational tech conglomerate Meta is reportedly working on non-fungible tokens (NFTs), integrating a feature that allows users to display their NFTs via Facebook and Instagram avatars. According to the report, Meta is currently working on a prototype that will allow users to mint collectible tokens.

Meta is also discussing the possibility of launching a marketplace for NFT exchanges. However, while this news may excite millions of NFT enthusiasts using social media, all projects are in their earliest stages and there are still many unknowns.

Previously, Meta was attracting more professionals to its projects. As early as January 12, Meta launched a recruiting campaign and persuaded about a hundred people to leave Microsoft. At the same time, in order to prevent employees from switching to Meta, Apple offered bonuses of $50,000 to $180,000 and stock options.

Formerly Facebook, Meta's major rebranding has allowed the company to focus on initiatives beyond social media. Last year, the company announced its plans to create a metaverse that connects physical experiences with online social experiences. The company also released previews of haptic gloves that could be rolled out for use in its future metaverse.

The earning potential in the NFT world is becoming more and more difficult to ignore. The company even predicts that traditional brands will deploy the NFT field and explore how to obtain benefits.

Just recently, the leading NFT marketplace Opensea surpassed $3.5 billion in monthly trading volume. This means that on the platform alone, over $169 million is spent on NFT transactions every day. According to NFT sales tracking statistics, the total sales of the NFT market has reached $25 billion so far.