New Meta Update Allows Linking of Digital Wallets to Social Media Platforms

Meta recently announced that both Facebook and Instagram users can now link their digital wallets to share their blockchain-verified items. This forms part of the tech conglomerate’s continued tests to support digital assets on its platforms. “As we continue rolling out digital collectibles on Facebook and Instagram, we’ve started giving people the ability to post digital collectibles that they own across both Facebook and Instagram,” Meta affirmed.

NFTs posted on the aforementioned platforms will appear with a “digital collectible” badge attached to them. This update appears to be limited to the company’s apps, which could lead to additional earnings and wider adoption overall. Earlier this month, Meta also launched a similar update for Instagram where it allowed users to post NFTs minted on the Flow blockchain. Tokens from wallets supporting the Ethereum or Polygon blockchains were also included in the previous update.

In this light, the firm also posted frequently asked questions (FAQs) regarding the updates. It focused heavily on making a detailed explanation of how linking digital wallets to user accounts works as well as how users will be able to keep their accounts secure. They acknowledge that connecting digital assets to its platforms could prompt more phishing attempts and other cyberattacks. Hence, users have been encouraged to utilize the additional security features of both Facebook and Instagram.

Nonetheless, Meta has been making significant moves over the past few years as the nascent Web3 industry maintains its growth and reach. In May, the tech giant hinted at its plan to launch a crypto payments platform called Meta Pay after it filed applications with the United States Patent and Trademark Office. Meta CEO Mark Zuckerberg notes that the digital asset space offers a “massive opportunity” in terms of earnings.

Sources: CoinTelegraph, The Verge