Big News: Fecabook Agreed With These 3 Altcoins!

Facebook (Meta) has announced some integrations with the projects behind the three altcoin projects. According to Meta’s statements, NFT will be bought and sold on Instagram in the near future. In this respect, the Polygon (MATIC) network will be supported primarily. In addition, Meta will pave the way for NFTs to be showcased on Instagram. For this, Solana (SOL) and Phantom (PHM) added wallet reinforcements. Here are the details…

Facebook provided integration for 3 platforms

Meta announced today that it’s rolling out a series of new creator updates on Instagram and Facebook. Most importantly, the company announced that creators on Instagram will soon be able to create their own NFTs and sell them directly to fans, both on and off Instagram. With this update, creators will have access to a toolkit to help them create, showcase and sell NFTs. Polygon is Meta’s first chosen partner for this feature.

Individuals on Instagram will be able to purchase NFTs directly from within the app. Meta says the process will take place with classic in-app purchases on iOS and Android. For now, Instagram does not take a share of the revenues of the creators. Meta is testing this new feature with a small set of creators in the US and plans to expand it to more countries in the future. Instagram is also adding reinforcements for the Solana and Phantom wallet, as well as the Blockchain and wallets it currently supports, including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, Dapper Wallet, Ethereum, Polygon, and Flow.

Altcoin prices soar

After the statements about Facebook, MATIC gained value first. The cryptocurrency managed to rise from $ 0.84 to $ 0.97. At the time of writing, it seems to have calmed down at $0.95. Solana (SOL), on the other hand, rallied from $30.30 to $32.74. It’s changing hands at $31.83 at the time of writing. Finally, Phantom (PHM) rose from $0.00006075 to $0.00006303. It is changing hands at $0.000062 with a slight pullback at the time of writing.

Meta trying to attract users

Also, information will now be available on Instagram for certain collections where metadata has been enhanced by OpenSea, such as collection name and description. In addition to NFT updates, Instagram will expand subscriptions to all eligible creators in the US. The social network began testing subscriptions with a small set of creators in January. This feature allows creators to offer their followers affordable access to their exclusive Instagram images and stories. Subscribers also get a special badge that helps them stand out in the comments section and in creators’ inboxes.

The new changes come at a time when Meta is investing in its creator user base as it sees the potential in a new revenue stream from things like creator subscriptions. With these new updates, Instagram is trying to bolster its platform against the competitive threat from TikTok, which is attracting a growing number of creators. Meta seems to need the support of creators as they continue to build the metaverse.

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