1. Media & Marketing

Facebook Pilots Ethereum, Polygon NFTs with Select Creators

Written by Posted on Less than 0 min read

Meta is piloting non-fungible tokens (NFTs) with Ethereum and Polygon for select U.S. creators on Facebook and will soon add Solana and Flow, a Meta spokesperson told Decrypt.

The move follows the social media giant’s NFT support for some creators on Instagram in May. Last week, Meta expanded its Instagram NFT pilot to enable more creators worldwide to display their NFTs. 

The Facebook trial is similar to Instagram’s initial pilot and enables creators to display NFTs on their profiles under a new tab. The art will show under a “digital collectibles” label, also like Instagram. 

See also: Instagram Trials NFT Sharing With Select Creators, Collectors 

There is no cost to post or share NFTs, and for now, there is no ability to turn posts into paid ads.

The launch follows Meta CEO Mark Zuckerberg’s announcement last week that NFT support would soon be trialed on Facebook. At the time, Zuckerberg said the test would allow creators to cross-post on Instagram and Facebook but that sharing feature is not yet available. 

Meta Product Manager Navdeep Singh tweeted screenshots of the digital collectibles framework, which show that when people click on NFTs posted on someone’s timeline, they will get details about that digital collectible, the collection, and the creator.

Read more: NFT Creators Caught Between Crypto Crash, Profit Margin

Select Facebook creators will be able to connect their cryptocurrency wallets to their Facebook profiles and turn their NFTs into Facebook posts.

Tech and media consultant Martin Bryant told Decrypt that Meta “clearly wants to offer a home to Web3 folks.” Meta also recently started testing changes to Facebook Groups to make them look “more like Discord.”

Related: Meta Intros Creator Marketplace, New Money-Making Tools, Metaverse Wallet

Earlier this month, Meta launched new tools to help creators make more money, including a creator marketplace with branded partnerships, an expanded Facebook Stars program and a wider Facebook Reels earnings program, PYMNTS reported. Meta said the new technologies will not only help creators earn more online now, but will also help creators as “we build for the metaverse.” 

View Original Article
Member since
PYMNTS.com is where the best minds and the best content meet on the web to learn about “What’s Next” in payments and commerce. Our interactive platform is reinventing the way in which companies in payments share relevant information about the initiatives that shape the future of this dynamic sector and make news. Our data and analytics team includes economists, data scientists and industry analysts who work with companies to measure and quantify the innovation that is at the cutting edge of this new world. http://www.pymnts.com
Do you like Pymnts.com's articles? Follow on social!

More from Pymnts.com

  1. Technology & Innovation

Amazon Acquires Belgian Warehouse Automation Firm Cloostermans

Aiming to makes its workplaces “safer, simpler and more productive,” Amazon has signed an agreement to acquire Belgium-based mechatronics solution designer and manufacturer Cloostermans. Cloostermans’ technology is already used in Amazon facilities to move palettes and totes and to package products for delivery. With the acquisition, Amazon will be able to more quickly deploy solutions […]
2 min read
0
  1. Channel: Delivery

DoorDash Inks Deal With Grocery Chain to Boost Delivery

DoorDash has inked an exclusive arrangement with Canadian grocery chain Loblaws, under which the delivery company will build warehouses for the latter, the Financial Times reported. The warehouses will facilitate 30 minutes-or-less delivery for between 5,000 and 8,000 Loblaws’ President’s Choice products. That brand, according to the Financial Times, has been licensed to a new […]
< 1 min read
0
  1. Trends & External Forces

Deal! CVS Wins $8B Bid for Signify Health

CVS emerged as the winner and closed an $8 billion deal in a hotly contested bid to acquire value-based healthcare solutions platform Signify Health, beating Amazon and UnitedHealthcare as big companies continue pushing into medical services.  Under the definitive agreement, CVS Health will acquire Signify Health for $30.50 per share in cash, according to a […]
2 min read
0
5
  1. Channel: Delivery

Report: Instant Grocery Delivery Services Lose Roughly $20 per Order

Several startups around New York City are vying to be able to ferry groceries within 10 or 20 minutes, according to The Wall Street Journal on Sunday (Jan. 30). Gorillas Technologies Ltd., Jokr SARL and Buyk Corp. are among the companies competing for market share in New York City. The startups want to deliver groceries […]
2 min read
0
5
  1. CPG: Food & Bev

Pepsi Automates Supply Chain to Head Off Shortages

As supply chain challenges continue to plague food and beverage (F&B) brands, industry giant PepsiCo, parent company of a wide range of popular brands, including Pepsi, Lay’s and Doritos, is investing in digitalizing its data insights to get ahead of potential challenges down the line. In joint prepared remarks Wednesday (Oct. 12) accompanying the company’s […]
2 min read
0
  1. Shopper & Customer

Grocery Stores Compete to Capture Consumer’s Healthy Food Spend

As food and beverage businesses announce their participation in the White House Conference on Hunger, Nutrition, and Health Wednesday (Sept. 28), many are using the opportunity to unveil not only environmental, social, and corporate governance (ESG) initiatives, as one might expect, but also features to drive customer acquisition and loyalty with nutrition-minded shoppers. These efforts […]
2 min read
0
  1. Data & Insights

1 in 3 Consumers Earning $250K Live Paycheck to Paycheck

As rising inflation makes it increasingly difficult to pay bills and build savings, U.S. consumers of all types are now living paycheck to paycheck — including those at the highest income levels.  In fact, slightly more than one in three consumers earning more than $250,000 in annual income lived paycheck to paycheck in April, according […]
2 min read
0
5
  1. Technology & Innovation

UK Facial Recognition Ruling Could Spur Innovation

The U.K.’s data-privacy watchdog’s recent $10 million fine on facial recognition company Clearview AI Inc. could spur innovation in the space, including advancements in payments technology, as it “sets clearer ground rules for balancing software innovation with people’s right to privacy,” according to a report in The Wall Street Journal Wednesday (May 25). The Information […]
2 min read
0
  1. Channel: Mass

Target to Launch Early Holiday Deals, Hire 100K Workers

The holiday shopping season is starting Oct. 6-8 at Target, as one of the largest retail chains in the United States launches a Deals Day event with thousands of select items discounted for that window of time only. Target is also planning to hire as many as 100,000 employees for the holiday season in stores […]
2 min read
0
  1. Shopper & Customer

Inflation, Consumer Spending Dominate Earnings, Fed’s Focus

The great softening is upon us. The Federal Reserve’s most recent Federal Open Market Committee (FOMC) statement Wednesday (July 27), which accompanied another historic 75 basis point rate hike, had scant commentary addressing the state of consumer spending. That document puts things simply: “Recent indicators of spending and production have softened… Inflation remains elevated, reflecting […]
2 min read
0
5
  1. Trends & External Forces

As Recession Looms, Retailers Face Pressure to Quickly Diversify Suppliers

With too many indicators pointing to a recession in the second half of the year, merchants and brands already struggling with inflation, inventory and a nervous consumer base have their work cut out in riding out what may be an insulting economic episode after an injurious pandemic. In a conversation with PYMNTS, Mike French, vice […]
4 min read
0
5
  1. Media & Marketing

Kohl’s Broadens Kohl’s Media Network to Boost Advertising

Kohl’s is expanding its in-house retail media agency, Kohl’s Media Network, giving partners access to a suite of omnichannel media services and broadening its advertising opportunities, according to a Thursday (July 21) company press release. “Our goal through Kohl’s Media Network is to leverage our vast omnichannel consumer data and insights to create innovative retail […]
< 1 min read
0
  1. Channel: Delivery

7-Eleven Builds Out Delivery Capabilities as Merchants Escape Reliance on Aggregators

As retailers and restaurants improve their direct delivery channels, aggregators are challenged to work harder to draw consumers to their marketplaces. Convenience store giant 7-Eleven, for one, has been especially proactive in developing its delivery capabilities, making on-demand fulfillment part of the brand’s value proposition for consumers. The retailer has acquired white-label on-demand delivery provider […]
2 min read
0
  1. Channel: Restaurants

Grocers, Restaurants Confront Rising Crime

With rising crime rates, restaurants and grocery stores are revising their operations, including making changes to store hours and spending more on security. Some are even closing stores entirely, as Starbucks recently announced that it’s closing 16 of its U.S. stores after workers reported facing various challenges and disruptions, including situations related to drug use. […]
2 min read
0
5
  1. Media & Marketing

Pinterest Q2 Eclipsed By New CEO’s Plan to Monetize Mix of Social, Search and eCommerce

One month into his new role and Pinterest CEO Bill Ready was given a rousing 20% ovation from Wall Street Monday after the former PayPal and Google executive told investors he planned to unlock and monetize the ailing social media company’s unique potential. In delivering the 12-year-old San Francisco-based company’s second quarter results, Ready told […]
2 min read
0
5
  1. Technology & Innovation

FTC Lawsuit Shows Faith in Meta’s Trillion-Dollar Metaverse Ambitions

The Federal Trade Commission (FTC) just sued to block Meta from acquiring a VR company, saying it would put the social media giant “one step closer to its ultimate goal of owning the entire ‘Metaverse.’” That’s something CEO Mark Zuckerberg had better get on with, given the dismal Q2 earnings report the company released on […]
4 min read
0
  1. Data & Insights

APIs Drive Omnichannel Growth by Connecting Real-Time Transaction Data Across Channels

For most of the time that retailers have existed, the only option shoppers had when they wanted to buy something was to go to a physical store and purchase in person. Then came eCommerce, which added online shopping to the mix, and more recently, the emergence of the omnichannel commerce concept, which some industry players […]
3 min read
0
  1. Agencies & Vendors

DoorDash, Restaurants Target Businesses as Office Workers Return

As more players in the food and beverage (F&B) space debut corporate meal solutions, DoorDash, the leading U.S. restaurant aggregator, is making changes to its own B2B program to better compete. On Monday (Sept. 12), the aggregator announced new features for its DoorDash for Work product suite, which launched in 2020, and which offers DashPass […]
3 min read
0
  1. Shopper & Customer

High-Income Consumers More Likely to Be Grocery Super Shoppers

Lower-income consumers may be more likely to shop for groceries each month than their higher-income counterparts, but high-income consumers are the most likely to make grocery purchases every few days. By the Numbers Research from PYMNTS’ study “Digital Economy Payments: Consumers Buy Into Food Bargains,” which drew from a July survey of a census-balanced panel […]
2 min read
0
  1. Shopper & Customer

Study Finds Fewer Than 10% of Consumers Use FinTechs as a Primary Bank

Most people have tried digital banking, but they may not have realized it. PayPal and Venmo are both already mainstream, and many digital-only banks are ready for consumers to transfer their primary accounts. Many consumers are not yet prepared to cut ties with their traditional financial institutions (FIs) and go fully digital, however. But PYMNTS’ […]
3 min read
0
Next