Facebook and Instagram would like to produce and sell NFTs, a project that is still in its infancy.
NFT has been on everyone’s lips lately. So when the Financial Times report claims that Facebook and Instagram plan to produce and sell their own NFTs, we can’t say we’re overly surprised.
Facebook and Instagram would like to produce and sell NFTs
Also, since when Meta CEO Mark Zuckerberg announced the company’s name change — from Facebook to Meta — and his intentions for the metaverse, there was also talk of taking charge of “digital asset ownership, or NFTs,”everyone it seems perfectly in line with the future projects and long-term strategy of the American giant.
A project that is still in its infancy
So far, we know very little about the Facebook and Instagram projects, especially since this initiative is only in its infancy. So a lot can still change, but one of the features to look forward to is that users will be able to display their NFT as their profile picture, something Twitter recently allowed Twitter Blue followers to do.
For those who don’t know, NFTs (Non-Fungible Tokens) are digital assets whose ownership is registered on a blockchain – the same technology found in cryptocurrencies. One might ask: what prevents the user from right-clicking an image and saving it to their computer? Nothing, but NFTs contain proof of ownership. In other words, the user who bought the NFT will be able to prove that it really belongs to him, and may ask to remove unwanted “copies”of it from various sites.
The report, however, did not specify what Facebook is going to do about it. Will the American giant decide to go to the police or not? It’s probably too early to tell. Case to follow!