The Morning Crypto

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    Meta introduces NFT sharing and cross-posting on Instagram

    Tanya Sharma
    Sept 30, 2022 19:02
    Meta is testing digital collectibles on Instagram this week with a small group of US creators and collectors who can share NFTs that they have made or purchased.
    Meta introduces NFT sharing and cross-posting on Instagram

    OVERVIEW

    • As they mention ,their function enables sharing digital collectibles, labeling the creator and collector automatically, and attaching a digital wallet.

    • This function of sharing or posting of a digital collectible on Instagram will be free of charge.

    • This will be operated around 100 countries. Users will be allowed the upload and sharing of non fungible tokens from their digital wallets.

    All about the international expansion

    They are beginning our global growth today by entering 100 nations in Africa, the Asia-Pacific, the Middle East, and the Americas. In addition, it will now enable posting of digital collectibles created on the Flow blockchain as well as wallet integrations with Dapper and Coinbase Wallet.

    In August, Meta announced an international expansion to include nations in Africa, Asia-Pacific, the Middle East, and the Americas. Users are now able to publish digital artifacts they own throughout Facebook and Instagram.

    The feature includes:Connecting a digital wallet; Sharing digital collectibles; Automatic tagging of both the creator and collector.

    To offer this feature, their team worked to gather and compile open blockchain data from platforms like Ethereum. They determine which collectibles belong to collectors and producers when they link their external wallets to Instagram using the public blockchain data.

    Questions on Security Concerns were raised by Users

    Along with compatibility for the Ethereum, Polygon, and Flow blockchains, the business also added support for third-party wallets like Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet.

    While some enthusiasts of digital assets may have viewed Meta's revelation as a victory for widespread adoption, not all members of Crypto Twitter were overjoyed by the information.

    Users who are skeptical about the security and privacy of the data released when digital wallets are connected to these social media sites have expressed their worries on social media.

    CryptoBartender, a member of the cryptocurrency Twitter community, expressed concern over what Meta would do with the information they obtain from digital wallets by tweeting,“So they can figure out which wallets are yours and keep tabs on you and your crypto activities?”

    Some users believed that making one's identity publicly associated with important digital assets may make one a target for fraud and theft. A person going by the username famousfxck enquired, “This is great for adoption. But isn’t it also dangerous?”

    At that time, a number of Twitter users highlighted their concerns about the security and privacy of the data transmitted by integrating digital wallets with Meta's platform. Sensitive personal data for more than 500 million Facebook users was exposed in April 2021 on a popular hacking forum.

    What's Next is coming from Meta ?

    As they begin this new area of investment for the company, Meta will keep an open ear for suggestions. Digital collectibles will soon be available on Facebook, and users will be able to share and show them in Instagram Stories as AR stickers.