Why social networks won\u2019t stop pushing NFTs - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why social networks won\u2019t stop pushing NFTs - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: The NFT boom of the past couple years appears to be conclusively over for average consumers. For big social networks, though, it appears that the work is just getting started. The latest platform to embrace non-fungible tokens is Reddit, which on Thursday announced the arrival of \u201cblockchain-backed collectible avatars\u201d \u2014 unique profile pictures from […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\" \/>\n<meta property=\"og:site_name\" content=\"Science and Nerds\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-08T14:43:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-08T14:43:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\",\"url\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\",\"name\":\"Why social networks won\u2019t stop pushing NFTs - Science and Nerds\",\"isPartOf\":{\"@id\":\"https:\/\/scienceandnerds.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1\",\"datePublished\":\"2022-07-08T14:43:34+00:00\",\"dateModified\":\"2022-07-08T14:43:36+00:00\",\"author\":{\"@id\":\"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e\"},\"breadcrumb\":{\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1\",\"width\":1200,\"height\":628},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/scienceandnerds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why social networks won\u2019t stop pushing NFTs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/scienceandnerds.com\/#website\",\"url\":\"https:\/\/scienceandnerds.com\/\",\"name\":\"Science and Nerds\",\"description\":\"My WordPress Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/scienceandnerds.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/scienceandnerds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/scienceandnerds.com\"],\"url\":\"https:\/\/scienceandnerds.com\/author\/admin\/\"}]}<\/script>\n","yoast_head_json":{"title":"Why social networks won\u2019t stop pushing NFTs - Science and Nerds","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/","og_locale":"en_US","og_type":"article","og_title":"Why social networks won\u2019t stop pushing NFTs - Science and Nerds","og_description":"Source: The NFT boom of the past couple years appears to be conclusively over for average consumers. For big social networks, though, it appears that the work is just getting started. The latest platform to embrace non-fungible tokens is Reddit, which on Thursday announced the arrival of \u201cblockchain-backed collectible avatars\u201d \u2014 unique profile pictures from […]","og_url":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/","og_site_name":"Science and Nerds","article_published_time":"2022-07-08T14:43:34+00:00","article_modified_time":"2022-07-08T14:43:36+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/","url":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/","name":"Why social networks won\u2019t stop pushing NFTs - Science and Nerds","isPartOf":{"@id":"https:\/\/scienceandnerds.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage"},"image":{"@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1","datePublished":"2022-07-08T14:43:34+00:00","dateModified":"2022-07-08T14:43:36+00:00","author":{"@id":"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e"},"breadcrumb":{"@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage","url":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1","contentUrl":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1","width":1200,"height":628},{"@type":"BreadcrumbList","@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/scienceandnerds.com\/"},{"@type":"ListItem","position":2,"name":"Why social networks won\u2019t stop pushing NFTs"}]},{"@type":"WebSite","@id":"https:\/\/scienceandnerds.com\/#website","url":"https:\/\/scienceandnerds.com\/","name":"Science and Nerds","description":"My WordPress Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/scienceandnerds.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/scienceandnerds.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/scienceandnerds.com"],"url":"https:\/\/scienceandnerds.com\/author\/admin\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1","_links":{"self":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts\/9439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/comments?post=9439"}],"version-history":[{"count":1,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts\/9439\/revisions"}],"predecessor-version":[{"id":9441,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts\/9439\/revisions\/9441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/media\/9440"}],"wp:attachment":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/media?parent=9439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/categories?post=9439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/tags?post=9439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

\nThe NFT boom of the past couple years appears to be conclusively over for average consumers. For big social networks, though, it appears that the work is just getting started.<\/p>\n

The latest platform to embrace non-fungible tokens is Reddit, which on Thursday announced the arrival of \u201cblockchain-backed collectible avatars<\/a>\u201d \u2014 unique profile pictures from artists riffing on Reddit\u2019s \u201cSnoo\u201d alien mascot<\/a>, giving purchasers the right to use them on and off the site. The avatars can be purchased only with fiat currency; Reddit takes a 5 percent cut of each transaction.<\/p>\n
\nReddit\u2019s announcement takes pains never to refer to these avatars as NFTs<\/q><\/aside>\n<\/div>\nIn a sign of how badly damaged the crypto brand has become, Reddit\u2019s announcement takes pains never to refer to these avatars as NFTs, even though they are stored on the Polygon blockchain. Instead, in the marketing copy they are simply \u201ccollectible avatars.\u201d<\/p>\n
\u201cWe see blockchain as one way to bring more empowerment and independence to communities on Reddit,\u201d the company said in its announcement. \u201cReddit has always been a model for what decentralization could look like online; our communities are self-built and run, and as part of our mission to better empower our communities, we are exploring tools to help them be even more self-sustaining and self-governed.\u201d<\/p>\nReddit is only the latest social network to offer users a way to set an NFT as their profile picture. Last week, Facebook began allowing some creators to showcase NFTs that they own on a new \u201cdigital collectibles\u201d tab in their profile<\/a>. The move came a month after Instagram added a way for creators to show off their NFTs<\/a>. Spotify began letting some artists uses NFTs as their profile pictures in May<\/a>.<\/p>\n
What makes these moves notable is that they came just as demand for NFTs and crypto products generally fell off a cliff. Here\u2019s Dan Milmo, writing on Saturday at the Guardian<\/em><\/a>:<\/p>\n
\nSales of NFTs totaled just over $1 billion (\u00a3830 million) in June, according to the crypto research firm Chainalysis, their worst performance since the same month last year when sales were $648 million. Sales reached a peak of $12.6 billion in January.<\/p>\n
The cryptocurrency market, worth about $3 trillion last November, is now worth less than $1 trillion.<\/p>\n<\/blockquote>\n
Back in January, platforms like Reddit had several good reasons to consider adding NFTs to their products. To enthusiasts, it appeared as if the technology had solved a long-standing problem for digital artists: their work can be reproduced instantly and infinitely online, reducing its value. By encoding art as non-fungible tokens, it appeared that artists might be better able to capture the value of the work they create and share online \u2014 and enable tech platforms to capture a healthy percentage of the transaction.<\/p>\nDemand for NFTs rose throughout 2020, eventually conferring upon owners of \u201cblue-chip\u201d collections like CryptoPunks and Bored Ape Yacht Club a measure of social status. In September 2020, Twitter announced it would let subscribers to its premium offering, Blue, authenticate their NFT ownership and highlight their purchases with hexagon-themed profile pictures<\/a>. That feature arrived in January, just in time for the market to peak.<\/p>\n
\nWhat once had appeared as chic, suddenly seemed unbearably cringeworthy<\/q><\/aside>\n<\/div>\nYou know what happened next: Russia\u2019s invasion of Ukraine, rising inflation, crashing tech stocks, and cryptocurrency valuations plunging along with them. The less crypto was worth, the less of it that people traded. (Except, of course, for some high-profile cases in which too many people tried to get their money out, driving various crypto lenders to seek bankruptcy protection.)<\/p>\nThe cultural value of NFT collections appears to have dropped proportionally along with their floor prices on OpenSea. Last month, ArtNet<\/em> noted that some of the celebrities who had been pushing NFTs the hardest \u2014 and who may have been in a position to benefit from those sales financially<\/a> \u2014 had quietly dropped them from their Twitter avatars<\/a>. Among them: Jimmy Fallon, Serena Williams, Reese Witherspoon, Shonda Rhimes, Lil Durk, Travis Barker, and Meek Mill.<\/p>\n
What once had appeared as chic, at least to an extremely online and crypto-zealous subset of Twitter users, suddenly seemed unbearably cringeworthy.<\/p>\n
Of course, by then the social platforms had all spun up big teams to figure out how to integrate NFTs into their own products. And a bunch of products that were entering development in January, when any junior product manager could have made a convincing case for them, arrived several months later looking pass\u00e9.<\/p>\n
If social networks ever got the memo about crypto\u2019s decline, they have so far refused to acknowledge it. Whether out of optimism about the future or in recognition of the considerable sunken costs involved, the companies\u2019 NFT product roadmaps appear to be largely intact.<\/p>\n
\n\u201cThe more places you can easily use your digital goods, the more you\u2019ll value them.\u201d<\/q><\/aside>\n<\/div>\nI contacted Reddit, Meta, and Twitter today to see if they would talk to me about how their NFT efforts are going; none agreed to talk with me. It\u2019s a measure of their confidence in an eventual comeback for NFTs that they are at least releasing<\/em> their NFT showcases, however indifferent the user base seems to be to them so far.<\/p>\n
Meta in particular has continued to champion the long-term potential of NFTs, even positioning them as a bedrock of the virtual reality metaverse it seeks to build. The fact that NFTs are owned by individuals means in theory that they can be moved from service to service, platform to platform, creating a more interoperable version of the internet than the one we have today.<\/p>\n\u201cIdeally, you should be able to sign into any metaverse experience and everything you\u2019ve bought should be right there,\u201d Mark Zuckerberg said in a June Facebook post<\/a>. \u201cThere\u2019s a long way to get there, but this kind of interoperability will deliver much better experiences for people and larger opportunities for creators. That is, the more places you can easily use your digital goods, the more you\u2019ll value them, which creates a bigger market for creators.\u201d<\/p>\n
Stephane Kasriel, Meta\u2019s head of fintech, told the Financial Times<\/em> this week<\/a> that the company wouldn\u2019t modify its crypto plans \u201cin any way\u201d due to the current crash. \u201cThe opportunity [Meta] sees is for the hundreds of millions or billions of people that are using our apps today to be able to collect digital collectibles, and for the millions of creators out there that could potentially create virtual and digital goods to be able to sell them through our platforms,\u201d he told the paper.<\/p>\n
Perhaps that opportunity will materialize eventually. It seem quite possible that platforms have the basic idea here right \u2014 that people really do want to own unique digital objects \u2014 but the product execution is wrong. Or perhaps they are simply too early.<\/p>\n
In the meantime, though, social platforms keep releasing NFT features only to be met with shrugs. As the downturn in tech leads to layoffs across the board, it\u2019s worth asking whether NFTs still deserve such a prominent place on the product roadmap \u2014 or whether they belong on the growing list of items these companies can simply no longer afford.<\/p>\n<\/div>\n

<\/br><\/code><\/p>\n
Source: https:\/\/www.theverge.com\/2022\/7\/8\/23199958\/social-network-nft-push-twitter-reddit-facebook-meta<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Source: The NFT boom of the past couple years appears to be conclusively over for average consumers. For big social networks, though, it appears that the work is just getting started. The latest platform to embrace non-fungible tokens is Reddit, which on Thursday announced the arrival of \u201cblockchain-backed collectible avatars\u201d \u2014 unique profile pictures from […]<\/p>\n","protected":false},"author":1,"featured_media":9440,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[18],"class_list":["post-9439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology","tag-tech"],"yoast_head":"\nWhy social networks won\u2019t stop pushing NFTs - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why social networks won\u2019t stop pushing NFTs - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: The NFT boom of the past couple years appears to be conclusively over for average consumers. For big social networks, though, it appears that the work is just getting started. The latest platform to embrace non-fungible tokens is Reddit, which on Thursday announced the arrival of \u201cblockchain-backed collectible avatars\u201d \u2014 unique profile pictures from […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\" \/>\n<meta property=\"og:site_name\" content=\"Science and Nerds\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-08T14:43:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-08T14:43:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\",\"url\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\",\"name\":\"Why social networks won\u2019t stop pushing NFTs - Science and Nerds\",\"isPartOf\":{\"@id\":\"https:\/\/scienceandnerds.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1\",\"datePublished\":\"2022-07-08T14:43:34+00:00\",\"dateModified\":\"2022-07-08T14:43:36+00:00\",\"author\":{\"@id\":\"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e\"},\"breadcrumb\":{\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1\",\"width\":1200,\"height\":628},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/scienceandnerds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why social networks won\u2019t stop pushing NFTs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/scienceandnerds.com\/#website\",\"url\":\"https:\/\/scienceandnerds.com\/\",\"name\":\"Science and Nerds\",\"description\":\"My WordPress Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/scienceandnerds.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/scienceandnerds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/scienceandnerds.com\"],\"url\":\"https:\/\/scienceandnerds.com\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why social networks won\u2019t stop pushing NFTs - Science and Nerds","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/","og_locale":"en_US","og_type":"article","og_title":"Why social networks won\u2019t stop pushing NFTs - Science and Nerds","og_description":"Source: The NFT boom of the past couple years appears to be conclusively over for average consumers. For big social networks, though, it appears that the work is just getting started. The latest platform to embrace non-fungible tokens is Reddit, which on Thursday announced the arrival of \u201cblockchain-backed collectible avatars\u201d \u2014 unique profile pictures from […]","og_url":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/","og_site_name":"Science and Nerds","article_published_time":"2022-07-08T14:43:34+00:00","article_modified_time":"2022-07-08T14:43:36+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/","url":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/","name":"Why social networks won\u2019t stop pushing NFTs - Science and Nerds","isPartOf":{"@id":"https:\/\/scienceandnerds.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage"},"image":{"@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1","datePublished":"2022-07-08T14:43:34+00:00","dateModified":"2022-07-08T14:43:36+00:00","author":{"@id":"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e"},"breadcrumb":{"@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#primaryimage","url":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1","contentUrl":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1","width":1200,"height":628},{"@type":"BreadcrumbList","@id":"https:\/\/scienceandnerds.com\/2022\/07\/08\/why-social-networks-wont-stop-pushing-nfts\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/scienceandnerds.com\/"},{"@type":"ListItem","position":2,"name":"Why social networks won\u2019t stop pushing NFTs"}]},{"@type":"WebSite","@id":"https:\/\/scienceandnerds.com\/#website","url":"https:\/\/scienceandnerds.com\/","name":"Science and Nerds","description":"My WordPress Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/scienceandnerds.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/scienceandnerds.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/scienceandnerds.com"],"url":"https:\/\/scienceandnerds.com\/author\/admin\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2022\/07\/why-social-networks-wont-stop-pushing-nfts_62c8429795f45.jpeg?fit=1200%2C628&ssl=1","_links":{"self":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts\/9439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/comments?post=9439"}],"version-history":[{"count":1,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts\/9439\/revisions"}],"predecessor-version":[{"id":9441,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts\/9439\/revisions\/9441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/media\/9440"}],"wp:attachment":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/media?parent=9439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/categories?post=9439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/tags?post=9439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}