META is introducing Digital Collectibles (NFTs) on Instagram

October 3, 2022
< 1 minute

Strategy | Business Models | Tech

META is introducing Digital Collectibles (NFTs) on Instagram. This feature includes the following:

    1. “Connecting a digital wallet. Once connected, creators and collectors will have the ability to choose which NFTs from their wallet they would like to share on Instagram.
    2. Sharing digital collectibles. Once a creator or collector posts a digital collectible, it will have a shimmer effect and can display public information, such as a description of the NFT. Posts will also be visible on their profile.
    3. Automatic tagging of both the creator and collector. The creator and collector can be automatically attributed in the digital collectible post (subject to their privacy settings).about.fb.com

Now, I have two main concerns:

    1. Once you link your wallet to META through the KYC process you are not that anonymous anymore . So where is the web3 anonymous advantage?
    2. There is no news about data & security. Each year META ‘losses’ the data of hundreds of millions users due to different cyber attacks. Who will guarantee this will not happen here too?

example of Meta NFTs InstagramSource: about.fb.com

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