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Instagram to Integrate NFTs Solana & Ethereum NFTs -Breaking

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Instagram to Integrate NFTs Solana & Ethereum NFTs

Instagram has announced the integration of NFTs from Polygon, a popular platform for non-fungible tokens. The official plans for this move are still to be released. Initially, users will be able to show their NFTs on the popular social media site. Meta will also add functionality to popular crypto wallets like MetaMask. This can be used to show ownership of NFTs. NFT creators can tag artists who contributed to making their NFTs in the future. This will allow them to bring blockchain technology to a wider audience.

Metaphorically, the Change of Image bears fruit.

Meta, the parent company behind Instagram had to make a number of adjustments and overcome many difficulties in 2021 when the leak of the Facebook (NASDAQ: ) password became the focus of attention. The scandal saw Facebook change its name to Meta, which was an intentional move and proved attractive to investors in blockchain technology.

There has already been talk of NFT minting being introduced to Facebook by the end of 2022, and the hype around the Metaverse continues to build, despite the company’s ongoing legal battles – trademark infringement and ineffective fraud prevention being among them.

Meta plans to also implement NFTs in Facebook group memberships and to create their own cryptocurrency. It is unlikely that the coin will be blockchain-based. Instead, it will act as an inside-app currency for Meta products.

Solana (SOL), and Ethereum (ETH) both fell by 5% over the last 24 hours

Despite the talk of Instagram’s new feature, which will certainly put the two most popular NFT-related cryptocurrencies to work, both SOL and ETH fell slightly over the weekend. Solana (SOL), which trades at $74.34, is down 17% from last week. Ethereum however is listed at $2459.31. That’s a 13% drop from last week.

What You Need to Care About

The increased corporate interest being shown in the metaverse and Web 3.0 in general is a signal of the changes coming to world’s most powerful social media platforms. As one billion Instagram users are set to get a new, exciting experience, NFTs will be soon available to the largest audience.

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