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Meta Developing a Metaverse Wallet as a Social Media Giant Double the Money on NFT

Social media giant Meta is working on a wallet for the metaverse as the company is expanding its testing of NFTs and rolling out new features for creators on Facebook and Instagram.

Ideally, you can log into any metaverse experience and everything you’ve purchased will be right there. There’s a long way to go, but this kind of interoperability will deliver on the experience.” much better experiences for everyone and greater opportunities for creators,” said Mark Zuckerberg, CEO of Meta, today. He also announced that Facebook Pay has been renamed to Meta Pay.

According to the CEO, “in the future there will be all sorts of digital items that you might want to create or buy” and “proof of ownership will be very important, especially if you want to carry some of these items across different services.

Meta also announced that it is expanding the ways creators can earn money on Facebook and Instagram, and extending its commitment to no fees for Subscriptions, Badges, Paid Online Events and Newsletter until January 1, 2024.

The company added that testing digital collections on Instagram will now be available to more creators globally and “some additional countries“.

Creators and collectors will be able to share their digital collections on Facebook and Instagram as we begin rolling out the feature on Facebook with select US creators on a single We’ll also soon begin testing NFT in Instagram Stories with SparkAR,” they added.

As we build for the metaverse, investing in web3 technology and digital collections like NFT is an important part of our long-term commitment to creators,” the company said.