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Meta Announces Coming Digital Payment and NFT Options as it Advances Towards the Metaverse

Given the current volatility of the crypto market, which is inherently related to current NFT trends, it seems a strange time for Meta to further promote various NFT projects across NFTs and their apps.

But that’s what Meta CEO Mark Zuckerberg is doing, announcing upcoming digital payment options, Meta previewing new NFT features, and providing new guides on how NFTs can help people enter the market. increase.

First, about payments – instead, as part of an extensive confirmation of the name change from “Facebook Pay” to “Meta Pay,” Zuckerberg said Meta was the new “Meta Pay.”The Metaverse Wallet provides a more integrated way to securely manage your digital identity and purchases.

As Zuckerberg explained:

“”In the future, there will be all kinds of digital items you want to create or buy, including digital clothing, art, videos, music, experiences, virtual events and more. Proof of ownership is especially important if you want to carry some of these items to a variety of services. Ideally, you need to be able to sign in to the Metaverse Experience, and everything you buy should be there. There’s a long way to go, but this kind of interoperability offers a much better experience for people and greater opportunities for creators. “

This is Meta’s big long-term vision, allowing users to retain ownership of digital items across a single app or space. Therefore, if you buy a character’s costume on Fortnite, you will be able to wear the same costume. Theoretically, with a business meeting Facebook avatar.

As Zuckerberg points out, there’s a long way to go to do this, but Meta recently signed up for the new Metaverse Standards Forum. Metaverse space interoperability standard. This new wallet aims to connect with other apps and tools other than Meta’s apps to facilitate such connections.

It takes time and there are many agreements to make it possible. But this is another indicator of where Meta is heading and the next digital connection space opportunity.

This is also where NFTs come in theory, and after starting initial testing of NFT display options on Instagram last month, Meta is trying to extend it to: There are more creators “in a few additional countries” as they are trying to establish another way to facilitate digital connectivity.

“Creators and collectors will be able to share digital collections on Facebook and Instagram at a later date after they start rolling out this feature on Facebook with some US creators. Also, using SparkAR, Instagram stories. Will start testing NFT soon. “

Instagram’s NFTs are already viewable in AR, and integration into the story provides another advanced way to showcase digital artwork in your app, increasing your interest in a wider range of NFT trends.

As mentioned earlier, that interest is diminishing and NFT search traffic is declining over time.

And as more collectors get burned by rug pulls and the ongoing crypto market crash, the NFT epidemic seems to diminish significantly, but as Meta points out, more digital items move to the next stage. There is a broader perspective than focusing on the stage, perhaps as a variable digital object that can be traded and displayed in the same way as current NFTs, not as a profile picture of a boring ape.

There are merits. Personally, I don’t think anyone will be impressed by the crappy JPEGs of badly drawn characters, but the ability to buy digital items and retain ownership across the space is of great value at some point. I think there is. ..

Therefore, it is worth learning about NFTs and understanding the underlying process. Meta is trying to facilitate that with a new NFT overview.

Meta NFT Guide

This is a basic explanation of NFT’s core principles. This is, in a sense, a bad name due to the misguided attention to all NFT Brothers and the fraudulent “art” projects in this early stage.

And again, there’s a market collapse, which is a weird push-but it may be a good time to learn before NFTs are completely different within the Metaverse space.

Logically, Meta’s new NFT announcement was originally timed to coincide with the big NFT NYC event this week. At this event, a large group of middle-aged men roamed the streets of the city, shooting Instagram videos of digital artwork. building.

Despite many declarations, it’s not the future of digital connectivity, but the underlying process of NFT trading can be an important aspect. Therefore, even in the current bear cycle of crypto space, these new announcements from Meta are important.


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