Through the cycle, Instagram’s improved NFT support never appeared.
In addition to “turning up the pressure a little bit” on Meta employees who shouldn’t be there and “hitting the metaverse runway,” Mark Zuckerberg is praising Instagram’s increased NFT support. The creator and CEO used the chance to remind everyone that his personalized 1992 Little League baseball card would soon be available, replete with an NFT, by announcing greater NFT support on Instagram.
Many believed he was minting it personally, however that is not the case, as stated in the Metropolis Comic Collect biography he referenced in his piece. This card was produced specifically by Mark Zuckerberg for a camp counselor who kept it, and it has now been validated and put up for sale as a real object with a blockchain-based digital receipt. When Zuckerberg was eight years old, he had this card made that said he batted .920 as a right-handed shortstop in Dobbs Ferry, New York; numerous pitchers from that league likely knew the video numbers were false before anybody else did. If you read his article, you’ll see that.
This happens at a fascinating time for Meta. Facebook, the company’s greatest cash cow, just revealed that its second-quarter revenue fell for the first time ever. Because “people are dissatisfied” and “use data isn’t fantastic,” as CEO Adam Mosseri told Casey Newton, Instagram is already perplexed and rejecting attempts with TikTok-like features.
As a result, Meta is joining, if somewhat late, a specialized market for “digital treasures” that has severely declined since peaking in the winter. Despite declining from its high in May, sales volume has remained largely stable in the months thereafter, according to information from OpenSea displayed in a tracker on Dune.
Newton said in a different Platformer study that while Meta, Twitter, and Reddit are all advancing NFT projects, they lack performance data.
One justification for this emphasis is the idea that these gems will appreciate dramatically when combined with the augmented and virtual reality environments Zuckerberg is building, but we aren’t there yet.
According to the most recent news from Meta, the test of NFT support is now available in 100 more nations, and connections for Coinbase Wallet, Dapper, and NFTs from the Flow blockchain are on the way.
