Facebook begins testing NFTs for selected creators in the US

Facebook's parent company Meta on Friday announced that it has launched NFTs (non-fungible tokens) for a few US creators on its social media platform Facebook.

The firm is starting to mint the NFTs on Ethereum and Polygon and later Solana and Flow will also support the NFT.

Sandeep Nailwal, Co-founder of Ethereum scaling solutions Polygon, took to Twitter to confirm the announcement.

Further, Navdeep Singh, a product manager at Meta, also used Twitter to share a sneak peek of the Facebook NFTs.

Meta Chief Executive Mark Zuckerberg had earlier announced that this testing would allow creators to cross-post on Instagram and Facebook. According to multiple media reports, the company spokesperson said the sharing feature across platforms will be rolled out soon.

Earlier in May, Adam Mosseri, Head of Instagram, announced that the platform would roll out NFTs. With these, creators and collectors could post NFTs they either created or own on Instagram by linking third-party digital wallets including Rainbow or Metamask.

In 2021, the firm also announced its project Metaverse—a series of web applications built around virtual reality and simulated environments. Since the boom of NFTs and Metaverse, tech giants including Meta, Google, Apple, and Microsoft are raising millions of dollars with the aim of supporting the metaverse.