Meta has finally made a strong move on its announcement for digital collectibles, first published on May 10, 2022. The platform has taken digital collectibles live across Facebook and Instagram. Creators and artists can now share their digital art pieces with users on digital platforms. Users will gain the capacity to own the digital collectible on both platforms.
The feature has gone live in 100 available digital wallet countries. Everyone in the United States of America will have access to the new feature.
Meta had hinted in the first post that it was inspired to push the culture forward; therefore, launching digital collectibles was a much-needed move in the roadmap. Creators can now leverage blockchain technology and reach a larger number of audiences to earn income. Fans will be able to support their favorite artists by purchasing their NFT, which could be music, image, video, or trading cards.
Non-fungible tokens are helping creators not just to earn income but also to have larger control over their work and have a better relationship with their fans.
Meta aims to improve the experience and accelerate the pace at which creators can monetize their digital content. Come August 04, 2022, Meta announced that it had started expanding to international regions. Nearly a hundred countries were targeted in Asia-Pacific, Africa, the Middle East, and the Americas.
The expansion paved the way for the update related to supporting wallets like Dapper and Coinbase. Users and creators must have their wallets connected to the profile on Instagram and Facebook. Third-party wallets can also be connected, including Trust Wallet and MetaMask. More wallets will be integrated later.
Polygon, Ethereum, and Flow are supported by Meta, with no fees associated with posting and sharing a digital collectible on Instagram.
Digital Collectibles are non-fungible tokens that artists create to list them on a marketplace, allowing interested users to purchase and trade the digital artwork. Creators and users must have their wallets linked to the platform before listing and purchasing the NFT. Artists first share their NFT on the platform with the public information available for preview. Users can see the details, like the description and the NFT.
Only a handful of creators can start listing their content. More artists will soon be able to list their digital art.
Artists have expressed excitement about the project, saying that they will now be able to share the NFT journey with the world, adding that the creator has been cultivating on Instagram for more than ten years.
Meta has committed to listening to feedback from creators and users while exploring new areas of investment. Digital Collectibles will soon be rolled out on Facebook. Users will be able to share their digital collectibles and information on Facebook as well.