{"id":13444,"date":"2022-08-30T14:42:32","date_gmt":"2022-08-30T14:42:32","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/08\/30\/meta-links-instagrams-nft-posts-to-facebook-as-the-market-for-digital-collectibles-tanks\/"},"modified":"2022-08-30T14:42:33","modified_gmt":"2022-08-30T14:42:33","slug":"meta-links-instagrams-nft-posts-to-facebook-as-the-market-for-digital-collectibles-tanks","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/08\/30\/meta-links-instagrams-nft-posts-to-facebook-as-the-market-for-digital-collectibles-tanks\/","title":{"rendered":"Meta links Instagram\u2019s NFT posts to Facebook as the market for \u2018digital collectibles\u2019 tanks"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/8\/29\/23327128\/nft-instagram-facebook-meta-blockchain-wallet-opensea<\/a>
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Meta has been testing support for NFT<\/a> \u201cdigital collectible\u201d posts on Instagram since May<\/a>, and if you\u2019re among the expanding group of people with access, then you can now share posts with your blockchain-verified items on Facebook as well. According to an updated blog post from the company,<\/a> it\u2019s \u201cstarted giving people the ability to post digital collectibles that they own across both Facebook and Instagram,\u201d after they connect their digital wallets to either platform.<\/p>\n

The posts will basically look like normal posts, according to a screenshot the company tweeted<\/a>, but will have a badge marking them as a \u201cdigital collectible.\u201d<\/p>\n

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<\/p>\n\"NFT<\/p>\n

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NFT Posts on Instagram that link to Facebook<\/em><\/figcaption>Image: Meta<\/cite><\/p>\n

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The FAQ<\/a> has a lot of details about how the connections work and keeping your account secure<\/a>, which is important since linking NFTs to Facebook and Instagram likely increases the possibility that people who post them will be targeted with phishing attempts, which have successfully hijacked wallets and their associated items on multiple<\/a> occasions<\/a>. <\/p>\n

The timing of this latest expansion and sharing across Facebook is conspicuously timed, popping up the day after Eminem and Snoop Dogg performed their Bored Ape Yacht Club-linked collaboration<\/a> at MTV\u2019s VMAs. Judging by the responses to that event, existing NFT fans seemed energized, but other music lovers weren\u2019t as impressed. <\/p>\n

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This was one of the first stories I read after leaving the dentist today. Now I’m wishing the tooth drilling went on for a few more hours…<\/p>\n

\u2014 zenyattamondatta (@zenyatamond8a) August 29, 2022<\/a>\n<\/p><\/blockquote>\n<\/div>\n

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I was going to say it looks like a JibJab e-card.<\/p>\n

\u2014 R C P (@r_c_p_AK) August 29, 2022<\/a>\n<\/p><\/blockquote>\n<\/div>\n

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I\u2019ve always wanted to experience a Gorillaz knock off 15 years later but exceptionally worse<\/p>\n

\u2014 E M P U \u042f E (@EMPURE_US) August 29, 2022<\/a>\n<\/p><\/blockquote>\n<\/div>\n

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lmao this isn’t historic it’s kinda depressing. this looks like the same sort of awkward video we saw constantly in the late ’90s when everyone was so excited to test the boundaries of 3d CG stuff in videos…and they all look dated now.<\/p>\n

\u2014 guro gf (@blackmetalbrews) August 29, 2022<\/a>\n<\/p><\/blockquote>\n<\/div>\n

Despite the performance, or perhaps because owners wanted to hold onto their NFTs and hope the values appreciate this afternoon, the BAYC ranked only fourth<\/a> in a list of most active collections.<\/p>\n

Forbes<\/em><\/a> reports data listed on DappRadar<\/a> shows trading volume on one of the largest NFT marketplaces, OpenSea, has fallen by 99 percent in the last four months alone. On May 1st, the marketplace had over $2.7 billion in transactions, compared to $9.34 million worth on Sunday. Another tracker on Dune Analytics<\/a> shows how far sales volume has fallen from the peak. Somehow, this makes it the perfect time for social networks like Twitter<\/a>, Reddit<\/a>, and Facebook \/ Instagram to belatedly hop in \u2014 according to Reddit\u2019s CEO, the secret is to not say NFT<\/a>.<\/p>\n