Meta (formerly named Facebook), announced on August 4, 2022, plans to integrate Coinbase and Dapper wallets on its social media platform. Along with the new integrations, the brand is also initiating a 100-country Non-Fungible Token (NFT) expansion on Instagram.
“Today we’re starting international expansion to 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas,” the company stated in an updated post. “Additionally, we now support wallet connections with the Coinbase Wallet and Dapper, as well as the ability to post digital collectibles minted on the Flow blockchain.”
Coinbase and Dapper joins the growing list of third-party wallets that Meta supports (MetaMask, Rainbow, Trust Wallet, etc). The latest feature will allow users to easily connect their wallets to Instagram and post digital collectibles. This is meaningful as Coinbase is one of the largest crypto exchanges and Dapper Labs has created popular NFT projects that have more than 1 million users.
Blockchain industry experts see the recent move as a big step for Web3 gaming. This is due to the fact that NFTs are the core of every game in the space. From characters to weapons, land to collectible cards, games benefit a lot from the technology.
History of NFTs on Instagram
On May 10, 2022, Meta introduced digital collectibles on Instagram to test NFTs with select creators and collectors. The new feature can be used free of charge. It includes capabilities such as connecting digital wallets, sharing art, and auto-tagging of both the creator and the collector.
To make the feature work, Meta collects and organizes public data from open blockchains such as Ethereum and Polygon, and identifies the collectibles, after collectors and creators have connected their third-party wallets to Instagram.
What’s Next for NFTs on Instagram and Facebook?
At the end of their post, Meta teased their upcoming plans. This includes rolling out digital collectibles on Facebook and allowing people to display and share their digital collectibles as AR stickers on Instagram. Both of these efforts will help spread awareness of NFTs. One can wonder, are NFT games coming on Meta platforms next?
Formerly operating as “Facebook, Inc.,” California-based technology conglomerate Meta Platforms, Inc., or simply “Meta,” owns social media platforms Facebook, Instagram, and What’s App.
According to independent technology research outlet EarthWeb, Meta has surpassed 3.6 billion monthly users across the three platforms in 2022.
Coinbase Wallet is a self-custody crypto wallet that allows users to store cryptocurrencies and NFTs in one place, while exploring the decentralized network through a mobile phone or a web2 browser.
Created by Dapper Labs, the company behind NBA Top Shot and CryptoKitties, Dapper Wallet employs smart contract technology, which allows smooth transactions without relying on a middleman.
Before You Go…
Our GameFi hub provides gamers with analytics and insights needed to make informed decisions on their journeys. Also, you can visit our Discord server and Twitter account to keep the conversation going!