On Thursday, the Mark Zuckerberg-led company Meta initiated its NFT expansion across 100 countries in Africa, the Asia-Pacific, the Middle East, and the Americas. This contains adding support for wallet connections with Coinbase Wallet and Dapper as well as the capacity to post digital collectibles minted on the Flow blockchain. The initial rollout targets the widespread social media app Instagram.
Users will only need to just connect their digital wallet to Instagram to post an NFT, the Third-party wallet integrations with Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet are either concluded as of Thursday or are coming soon. Supported blockchains at this time are Polygon, Ethereum, and Flow. There are no fees attached to posting or sharing a digital collectible on Instagram.
Flow is a layer-1 blockchain with its namesake FLOW token operating as a tender for network participation, transactions, and governance. Significant ecosystem partners include Warner Music, National Basketball Association, Ubisoft, Ultimate Fighting Championship, Animoca Brands, Circle, Binance, OpenSea, and now Meta.
Along with the metaverse, digital assets seem to have become one of Meta’s core features for expansion. During the second quarter of 2022, the company’s revenue sank 1% year over year to $28.8 billion while its operating income decreased by 32% to $8.36 billion in the same period. CEO Mark Zuckerberg expressed he was unmoved by the whopping $2.8 billion loss in the company’s Metaverse division, and that instead there was an opportunity to make hundreds of billions, or even trillions, of dollars as the sector evolves.
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