Copy link
Increase text size
Decrease text size
Link copied

Non-fungible tokens will be supported in Facebook’s metaverse

NFT holders can sell their digital assets securely on the metaverse.

Photo by Gerd Altmann of Pixabay

Fri, 29 Oct 2021, 08:21 am UTC

Facebook has been rebranded and is now called Meta. While users of the social media platform might be confused as to what the rebranding might mean to them, the move is seen as a positive development for the crypto space especially for non-fungible tokens (NFTs).

“I am proud to announce that starting today, our company is now Meta,” Facebook CEO Mark Zuckerberg announced the new name on Thursday during the annual developers’ conference. “Our mission remains the same, still about bringing people together, our apps and their brands, they're not changing.”

Meta comes from the word metaverse, which is essentially a virtual universe where people’s digital representations, also known as avatars, can interact with one another such as participating in meetings, playing, or even going to concerts, according to the Guardian.

The social media giant is committed to bringing this metaverse into reality. “The metaverse is the next evolution of social connection,” Facebook said on its website. “Our company’s vision is to help bring the metaverse to life, so we are changing our name to reflect our commitment to this future.”

The company already owns Oculus, which manufactures virtual reality headsets. It is highly likely that this VR gear will come into play in the company’s future plans for the metaverse.

What’s even more interesting for the crypto space is that the metaverse will also support non-fungible tokens. “This will make it easier for people to sell Limited Edition digital objects like NFTs, display them in their digital spaces, and even resell them to the next person securely,” Facebook Head of Metaverse Products Vishal Shah said, according to Coindesk.

Facebook is already hiring for its metaverse unit to speed up its development. The goal is to create opportunities for businesses and individuals to monetize their metaverse presence. While the details are yet unclear at this point, the platform will likely allow creators and traders to monetize their NFT artworks by selling them on the metaverse.

“Our goal is to provide a way for as many players as possible to build a business in the metaverse,” Shah added.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • WestonTony905
  • 2021.11.23 20:42:16
I have been working for a year plus to get my credit to 700plus, I felt pretty bad when I checked there wasn’t any improvement. One delighted evening after I closed from work, I sketch through the internet trying to figure out how to bring up my score, I came across lot of articles/testimonies of different kind and one caught my attention speaking and recommending a particular hacking company named TROVIAN CREDIT REPAIR. I quickly write out the details [email protected] or text; +1 (424) 307 4562 and contacted them; thereafter they replied and told me they are fully back in service. To cut the long story short they started with the repair and got my score to exactly 799 and remove all the negative items replacing them with awesome trade lines. Get in touch with them via the above contacts and get your credit perfectly fixed.
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $48,939.00 (-1.29%)
  • Ethereum (eth) $4,158.51 (+0.80%)
  • Binance Coin (bnb) $554.52 (-2.59%)
  • Tether (usdt) $1.00 (0.00%)
  • Solana (sol) $190.97 (-8.50%)
  • Bitcoin (btc) $48,939.00 (-1.29%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft