Meta starts testing NFTs on Facebook

US-based Meta has started to test Polygon and Ethereum-based NFTs with a small number of creators on its social media platform Facebook.

Navdeep Singh, Product Manager at Meta, last week posted on Twitter a screenshot of the update, which shows a “digital collectibles” tab that will allow Facebook users to display NFTs on their profile page.

The company plans to test the new function with Ethereum and Polygon-based NFTs, and later with Solana and Flow-based NFTs.

In May, Meta chief executive Mark Zuckerberg announced that its image-sharing social network Instagram would support NFTs. Select creators and collectors in the U.S. can display NFTs on their Instagram accounts during a trial. 

Meta is also considering using 3D augmented reality NFTs and AR software, and has plans to make it compatible with Instagram’s story functionality. Third-party wallets compatible for use will include MetaMask, Rainbow and Trust Wallet, with Phantom, Coinbase Wallet and Dapper Wallet.

In June, Meta announced the establishment of a digital fashion marketplace for avatars in the metaverse. It has partnered with luxury brands Balenciaga, Thom Browne and Prada to launch items, which will be available on Facebook and Instagram. 

The service is initially available in the US and Canada, Thailand and Mexico. Items are priced between US$2.99 and US$8.99. Meta said it aimed to enable other designers and creators to sell original digital fashion items in the future.