Meta is planning to sell NFTs! As Facebook rebranded to Meta, its new vision is to become a social tech company. The platform planned to open AR and VR stores and run cryptocurrency ads. Another part of the plan is creating, showcasing, and selling NFTs.
NFT means non-fungible tokens. They are unique trading cards that can serve as profile images. At the same time, they can be a form of cryptocurrency payments. According to the Financial Times, Facebook and Instagram are getting ready with a feature to let users display NFT on their profile picture. These are called “Collectibles.” The platforms are also working on a prototype to mint NFT and showcase them in the Marketplace. By attaching digital wallets to an account, NFT collectibles can become digital goods. The plan is still in its early stage, so anything can change.
Meta is planning to sell NFTs on 20 January 2022.
Implications for Marketers:
Meta’s plan to sell NFT is a significant shift to the cryptocurrency world. Marketers should keep an eye on this trend as they can be an option to promote goods and services on Meta’s family of apps.