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Instagram, Twitter and Ebay introduce NFTs

 


The mood on the NFT market was already better. Gone are the days of blind buying because it said NFT. In January, the trading volume on all NFT markets was still 17 billion US dollars, 16 billion US dollars less is expected for June - a drop of 93 percent. Internet giants such as Instagram, Twitter and Ebay are nevertheless pushing into the no longer quite so lucrative NFT business.


Meta is testing NFTs on Instagram and Facebook

Meta has been testing NFTs on Instagram for a few weeks . The pilot project, in which users can connect their own NFTs to their account, is to be expanded, as the parent company has now announced . It will add "several more ways for creators to monetize on our platforms," ​​according to Meta.


Accordingly, the test will be extended to other countries – and also on Facebook. Users should be able to share the tokens “on Facebook and Instagram” in the future after “the function was introduced on Facebook at a later date with selected US creators”. A time was not mentioned.


According to Meta, NFTs can also be used with augmented reality methods for Instagram stories. The integrations are part of the Internet group's Metaverse strategy.


Buy NFTs via Twitter – with detours

Since January, NFT avatars can be linked to Twitter Blue, the paid version of the short message service. Now the company has announced a partnership with e-commerce service provider Shopify and announced "a sales channel app for US merchants in the Shopify app store". Trading in NFTs will also open up.


Because Shopify has launched the beta version of “Tokengate” , an interface between NFT sellers and buyers in the Shopify app. The service can be used to mint NFTs on Ethereum, Polygon, Solana or Flow and put them up for sale directly. The trial version is initially available to select US retailers.


Ebay expands NFT business

Ebay doesn't miss out on the NFT business either. The online auction house has now announced the takeover of the NFT marketplace KnownOrigin. "KnownOrigin's technology and platform offers artists the opportunity to create unique, authentic, digital collectibles in the form of NFTs," according to Ebay 

The acquisition is "an important step in Ebay's technology-led realignment and ushers in a new era of digital collecting at the world's leading collectibles destination," the company added. As early as May 2021 , Ebay introduced the buying and selling of NFTs .

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