Meta has been testing support for NFT “digital collectible” posts on Instagram since May, and if you’re among the growing group of people with access, then you can now share posts with your blockchain-verified items on Facebook as well. According to an updated post on the company’s blog, it has “begun giving people the ability to post digital collectibles they own on both Facebook and Instagram” after connecting their digital wallets to both platforms.
Posts will basically look like normal posts, according to screenshot the company tweetedbut they will have a badge marking them as a “digital collectible”.
The FAQ goes into a lot of detail about how links work and protecting your account, which is important because linking NFTs to Facebook and Instagram likely increases the chance that people who post them will be targeted for phishing attempts that are successfully stolen wallets and related items multiple times.
The timing of this latest extension and Facebook share is visibly timed, popping up the day after Eminem and Snoop Dogg performed their Bored Ape Yacht Club collaboration at MTV’s VMAs. Judging by the response to this event, existing NFT fans seemed energized, but other music lovers weren’t as impressed.
This was one of the first stories I read after leaving the dentist today. Now I wish the teething could go on for a few more hours…
— zenyattamondatta (@zenyatamond8a) August 29, 2022
I was going to say it looks like a JibJab eCard.
— RCP (@r_c_p_AK) August 29, 2022
I always wanted to experience a Gorillaz that would break 15 years later, but extremely worse
— EMPU YA (@EMPURE_US) August 29, 2022
lmao it’s not historical, it’s a bit depressing. this looks like the same kind of awkward video we saw all the time in the late 90s when everyone was so excited to test the limits of 3D CG stuff in videos… and they all look dated now.
— guro gf (@blackmetalbrews) August 29, 2022
Despite the performance, or perhaps because owners wanted to hold on to their NFTs and hope values will rise this afternoon, BAYC ranked only fourth in a list of the most active collections.
Forbes reports data listed on DappRadar shows that trading volume on one of the largest NFT markets, OpenSea, has dropped by 99 percent in the past four months alone. On May 1, the market saw more than $2.7 billion in transactions, compared to $9.34 million on Sunday. Another Dune Analytics tracking tool shows how far sales volume has fallen from its peak. In a way, this makes it the perfect time for social networks like Twitter, Reddit and Facebook / Instagram to jump in late — according to Reddit’s CEO, the secret is not to say NFT.