Facebook Supports NFT Digital Collection On Content Creator's Timeline, Will Be Traded Directly

Facebook will support nonfungible tokens (NFT) with a "digital collection" tab on the timeline.(photo: twitter @navdeep_ua)

JAKARTA - Facebook will support nonfungible tokens (NFT) with a "digital collection" tab on content creators' timelines to showcase their work. Meta technical program manager Navdeep Singh posted a screenshot of the NFT and content creator page on Thursday, June 30 on Twitter.

A spokesperson for Meta, Facebook's parent company, told TechCrunch on the same day that the rollout of NFT on Facebook would be gradual. The first will start with select content creators in the United States. In the future, NFT creators will be able to cross-post between Facebook and Instagram, another Meta property. Instagram is also testing NFT on its Spark AR augmented reality platform.

We're launching NFTs on Facebook! Excited to share what I've been working on with the world. pic.twitter.com/TaV66zRanV

— Navdeep Singh (@navdeep_ua) June 29, 2022

Instagram also expanded its NFT trial from the US to international users last week. The app allows NFTs printed on Ethereum and Polygon to be displayed, while other NFTs from Solana and Flow are also planned.

Meta announced in May that it was starting an NFT test on Instagram, while Facebook to follow "soon," as reported by Meta CEO Mark Zuckerberg. Other Meta-owned apps, like WhatsApp and Facebook Messenger, will eventually get NFT display capabilities.

Facebook which changed its name to Meta in October 2021. Now it has been trying to grow on the Web3, but not all of its efforts have been successful. Meta gave up its bid to launch the stablecoin Diem last February after significant opposition from regulators around the world.

However Meta now filed a trademark application for payment platform Meta Pay in May and Zuckerberg announced on June 22 that Meta Pay will replace Facebook Pay.

"Meta Pay will be available on Facebook, Instagram, WhatsApp and Facebook Messenger," Zuckerberg said as quoted by The Verge.

However, a company spokesperson told TechCrunch that Meta "will not offer the ability to convert digital collection posts into ads at this time" on Facebook, so it's unlikely that Meta will launch NFT sales there.

The NFT sale is expected to launch on the Meta Quest app store, which supplies apps and games for Meta's Metaverse.