{"id":236597,"date":"2022-05-10T10:30:44","date_gmt":"2022-05-10T09:30:44","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=236597"},"modified":"2022-05-10T19:05:49","modified_gmt":"2022-05-10T18:05:49","slug":"meta-taps-polygon-to-build-nft-platform-for-instagram-facebook","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/meta-taps-polygon-to-build-nft-platform-for-instagram-facebook\/","title":{"rendered":"Meta launches digital collectibles on Polygon for Instagram, Facebook"},"content":{"rendered":"<p>Polygon has partnered with Meta to create an NFT platform for Instagram and Facebook, Polygon CEO Ryan Wyatt announced via Twitter.<\/p>\n<p>The partnership will expose Polygon's blockchain ecosystem to Meta's combined 2.9 billion users. Wyatt said Meta chose Polygon due to its carbon-neutral footprint and high scalability.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8 We&#39;re excited to share that <a href=\"https:\/\/twitter.com\/Meta?ref_src=twsrc%5Etfw\">@Meta<\/a> is partnering with <a href=\"https:\/\/twitter.com\/0xPolygon?ref_src=twsrc%5Etfw\">@0xPolygon<\/a> as they make their push into web3. \ud83d\udea8<\/p>\n<p>Facebook is choosing Polygon due to:<\/p>\n<p>\ud83c\udf0d Our carbon-neutral footprint<\/p>\n<p>\u26d3\ufe0f The scale we can offer<\/p>\n<p>\ud83d\udcbb The developer ecosystem choosing to build on Polygon. <a href=\"https:\/\/twitter.com\/search?q=%24MATIC&src=ctag&ref_src=twsrc%5Etfw\">$MATIC<\/a> \ud83e\udd1d <a href=\"https:\/\/twitter.com\/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw\">$FB<\/a> <a href=\"https:\/\/t.co\/lk7D5ixgcB\">pic.twitter.com\/lk7D5ixgcB<\/a><\/p>\n<p>&mdash; Ryan Wyatt (@Fwiz) <a href=\"https:\/\/twitter.com\/Fwiz\/status\/1523676688000831488?ref_src=twsrc%5Etfw\">May 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meanwhile, Meta CEO Mark Zuckerberg <a href=\"https:\/\/www.facebook.com\/zuck\/posts\/pfbid0J62PL6P2aWwvWz6u1q8TgEp4BStWwdHKHuEFqSoLrQpbZD8my74dGwXhdBsWiAHNl\">announced<\/a> on May 9 that limited testing of NFTs on Instagram is underway and that &#8220;similar functionality&#8221; would come to Facebook &#8220;soon.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Mark Zuckerberg just announced that we\u2019re testing digital collectibles for creators and collectors to showcase NFTs on Instagram. NFTs allow creators to take control over their work, fanbase and income. Oh and they \u2728shimmer\u2728<a href=\"https:\/\/t.co\/gwCW0CiR3M\">https:\/\/t.co\/gwCW0CiR3M<\/a> <a href=\"https:\/\/t.co\/wraSdWvgLf\">pic.twitter.com\/wraSdWvgLf<\/a><\/p>\n<p>&mdash; Meta Newsroom (@MetaNewsroom) <a href=\"https:\/\/twitter.com\/MetaNewsroom\/status\/1523679275785744384?ref_src=twsrc%5Etfw\">May 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A post on the Instagram Creators <a href=\"https:\/\/www.instagram.com\/p\/CdWTt6igNhK\/\">page<\/a> gave more insight into how the NFTs will work on the platform. It confirmed that &#8220;there will be no fees associated with posting or sharing a digital collectible on Instagram&#8221; and revealed more details regarding how NFTs will be displayed.<\/p>\n<h2>Digital Collectibles<\/h2>\n<p>The NFT integration for Instagram focuses on the term &#8220;Digital Collectible&#8221; rather than NFT, given the confusion around the term fungible for many people.<\/p>\n<p>Instagram digital collectibles will allow users to connect a digital wallet, share digital collectibles, and automatically tag creators and collectors in posts.<\/p>\n<p>The digital collectible Instagram posts will have a &#8220;shimmer effect&#8221; to allow them to stand out from regular posts in the feed. NFTs will likely be integrated into Instagram as standard posts in your Instagram feed.<\/p>\n<figure id=\"attachment_236638\" aria-describedby=\"caption-attachment-236638\" style=\"width: 476px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-236638 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/05\/Screenshot-2022-05-10-091532.jpg\" alt=\"\" width=\"476\" height=\"588\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/05\/Screenshot-2022-05-10-091532.jpg 476w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/05\/Screenshot-2022-05-10-091532-243x300.jpg 243w\" sizes=\"(max-width: 476px) 100vw, 476px\" \/><figcaption id=\"caption-attachment-236638\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.instagram.com\/p\/CdWTt6igNhK\/\">Instagram<\/a><\/figcaption><\/figure>\n<p>Meta will initially only give access to NFTs to a small number of creators and NFT projects.<\/p>\n<p>Users that will have access to digital collectibles first are<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/adambombsquad\/\"> @adambombsquad<\/a>, <a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/bluethegreat\/\">@bluethegreat<\/a>, <a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/bossbeautiesnft\/\">@bossbeautiesnft<\/a>, <a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/cynthiaerivo\/\">@cynthiaerivo<\/a>,<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/garyvee\/\"> @garyvee<\/a>,<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/jenstark\/\"> @jenstark<\/a>,<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/justmaiko\/\"> @justmaiko<\/a>,<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/maliha_z_art\/\"> @maliha_z_art<\/a>,<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/misshattan\/\"> @misshattan<\/a>,<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/nopattern\/\"> @nopattern<\/a>,<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/oseanworld\/\"> @oseanworld<\/a>, <a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/paigebueckers\/\">@paigebueckers<\/a>,<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/phiawilson\/\"> @phiawilson<\/a>,<a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/swopes\/\"> @swopes <\/a>and <a class=\"notranslate\" href=\"https:\/\/www.instagram.com\/yungjake\/\">@yungjake<\/a>.<\/p>\n<p>The most notable name is perhaps Gary Vaynerchuck, who launched his Vee Friends NFTs in 2021 with great success.<\/p>\n<h2>An NFT marketplace<\/h2>\n<p>The Facebook and Instagram marketplaces make up 250 <a href=\"https:\/\/gadgets360.com\/social-networking\/news\/facebook-marketplace-monthly-active-users-now-at-1-billion-shops-crosses-250-million-mark-zuckerberg-2424412\">million<\/a> users per month and hundreds of millions of dollars in revenue. With the integration of web3 technology into the Meta tech stack, it could be possible for Meta to allow NFT sales on their marketplace in the future.<\/p>\n<p>OpenSea, the largest NFT marketplace, currently has 1 <a href=\"https:\/\/earthweb.com\/opensea-statistics\/\">million<\/a> active users, while Meta marketplace has roughly 1 billion active users.<\/p>\n<h2>3D NFTs in the Metaverse<\/h2>\n<p>Zuckerberg is keen for Meta to focus on 3D NFTs used within a Metaverse. The name change from Facebook to Meta indicated a strong desire to take ownership of the space.<\/p>\n<p>Further, given that Meta owns Oculus and their extremely popular VR headsets, it seems 3D NFTs will be used within the Oculus metaverse through Polygon. An additional option for 3D NFTs is the Sony glasses-free <a href=\"https:\/\/cryptoslate.com\/sony-theta-labs-give-away-glasses-free-3d-display-with-exclusive-nfts\/\">display<\/a> that exhibits NFTs in 3D without a headset.<\/p>\n<h2>NFT adoption<\/h2>\n<p>The move to partner with Polygon alongside other layer-1 solutions like Ethereum is likely to help increase adoption among crypto newcomers from Meta's customer base. Minimal fees and a carbon-neutral footprint are aspects of Polygon that will appeal to those new to the space.<\/p>\n<p>In the past few months, much of the mainstream attention for crypto has focused on the apparent high energy usage. Therefore, it is understandable that Meta would choose a carbon-neutral chain for their first blockchain partnership.<\/p>\n<p><strong>UPDATE May 10, 7 pm GMT: Meta has clarified that Ethereum will also be supported on launch with Solana and Flow in development. You can read more about this on the Instagram <a href=\"https:\/\/about.instagram.com\/blog\/announcements\/instagram-digital-collectibles\">blog<\/a>.\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon has partnered with Meta to create an NFT platform for Instagram and Facebook, Polygon CEO Ryan Wyatt announced via Twitter. The partnership will expose Polygon&#8217;s blockchain ecosystem to Meta&#8217;s combined 2.9 billion users. Wyatt said Meta chose Polygon due to its carbon-neutral footprint and high scalability. \ud83d\udea8 We&#39;re excited to share that @Meta is [&hellip;]<\/p>\n","protected":false},"author":1264,"featured_media":236649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,77055,76232],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Meta launches digital collectibles on Polygon for Instagram, Facebook<\/title>\n<meta name=\"description\" content=\"Instagram NFTs are coming next week and they will be integrated with Polygon. Facebook will also accept NFTs in future\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/meta-taps-polygon-to-build-nft-platform-for-instagram-facebook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meta launches digital collectibles on Polygon for Instagram, Facebook\" \/>\n<meta property=\"og:description\" content=\"Instagram NFTs are coming next week and they will be integrated with Polygon. 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