Facebook cleared its intentions for stepping into the Metaverse, by renaming the parent company from Facebook to Meta. In order to make the world feel its presence in the gaming Metaverse, the company even launched its first virtual world “Horizon Worlds”. Well, there are now speculations that the social-media giant is now planning to build a “Facebook NFT Marketplace”
There is no doubt that NFT has shone the fortunes of various companies. If we talk about the stats then the total revenue collected in the month of December was $41 billion. Yeah, I was even shocked to know the number. But, it’s what the stats say. So, how can one not expect the tech giant which rules social media then tried its hand in gaming would not get affected by the NFT wave.
The question is what is Facebook’s (Now Meta) plan towards the NFTs. Is it going to create a Facebook NFT Marketplace in the already existing FB application? Or is the company planning to launch its own blockchain? We know you must also be having similar queries.
Well, if yes, then let’s not make you more curious about the news and start with the post that carries every latest update about the Facebook NFT Marketplace.
Facebook NFT Marketplace
Recently, Twitter made an NFT profile picture update that allowed the NFT buyers to display their purchase as the profile picture on the application in the most unique way. A month ago Instagram said that it will soon incorporate some NFT features.
The social media platforms are opening up themselves to the NFT change. So, why not Facebook? Well, there is a word in the market that there is a chance that the Facebook NFT feature might be included in the native FB application.
There is no official confirmation from the company. But, according to the sources you may soon be able to create, showcase and sell the NFTs on the Facebook NFT Marketplace. We won’t say that the news is hundred percent current. But, we also cannot deny the fact that there is no smoke without fire.
How Facebook NFT Marketplace Works
As we said the feature is not out yet. However, if Meta plans to launch an NFT marketplace on the Facebook platform then the possible procedure would be as follows.
- Connect your digital wallet to your Facebook account.
- Now, you can use the coins in the wallet to make a purchase in the NFT Marketplace.
- Or there is also the chance that Meta develops its own digital wallet, which you can use to save the currency and the NFT purchased.
- There are also the chances that you will also be able to use the Marketplace as a platform to display your NFT and make them available for sale to others.
Will Facebook Include The NFT Profile Picture Like Twitter
Well, nothing can be said with conviction because according to the sources showcasing the NFT was also mentioned. This showcasing might mean that Facebook will also look forward to the feature that will allow the NFT owner to proudly display his NFT on the profile picture.
But, you cannot also deny the fact that showcasing the NFT also means minting the NFTs. Minting the NFT means displaying the NFT on the blockchain to monetize it. In simpler words, Minting is displaying the NFT for sale.
Whatever it is, one thing is for sure that something great is being planned for the NFT users.
Who Will Be Benefitted By The Facebook NFT Marketplace
If Facebook NFT Marketplace is introduced then the people who are going to make use of the platform the most are the digital photographers. This will give them a platform to showcase their skills and display their photographs for auctions as the NFTs.
Despite photographers, if you are a video animator then you can also sell your NFT art on the Facebook NFT Marketplace. Not to forget the Crossroad got sold as one of the most expensive NFTs in the world.
How Is Facebook NFT Marketplace Different From The Other NFT Marketplaces
One of the major factors that will make the Facebook NFT Marketplace different from the other NFT marketplaces in the world is that it will make the buyer get in direct contact with the seller.
According to the sources, it will provide the user with a full ecosystem in which he can create, showcase and sell his NFT. So, you don’t need to jump between applications to mint your NFT and then sell it.
How To Buy NFT From Facebook Marketplace?
If Facebook launches an NFT marketplace on its platform which I think is going to happen soon. Then buying the NFT from the marketplace might include the following steps.
- Connect your wallet to your Facebook account.
- Then go to the Facebook NFT Marketplace.
- Now, you can select the NFT of your choice
- And make a purchase from the tokens or coins in your wallet.
- The NFT will be added to the wallet attached.
Well, nothing can be said with certainty about the Facebook NFT Marketplace. But, Meta’s plan of shifting towards the Metaverse might include this step as well. The major question here arises will Facebook Marketplace be safe as we know that FB holds no guarantee of the product that you buy from its existing Marketplace.
The answer to safety policy is quite simple since NFTs transactions will take place on the blockchains. So, the security will automatically be high. Well, if Facebook is jumping into the NFT market then it needs to get strict with its safety policy.
We hope that all your doubts and queries are cleared, if not then do ask us in the comments section. We will be happy to hear from you. If you find this article interesting and informative then do share it with your friends.
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