Meta Offers NFTs to Users of the Crypto Winter Period

Meta provides non-fungible tokens (NFTs) to users during the Crypto Winter period to stay ahead of the competition with other platforms.

Mehta’s head of fintech, Stephane Kasriel, told the Financial Times that the company will continue to push the NFT blueprint. Kasriel said he hasn’t changed his plans “at all” despite disappointing indicators from the industry.

He said the meta has a coexistence vision that provides creators with opportunities to monetize while assembling digital collectibles.

“Our NFT entry will enable millions of creators with the potential to create virtual and digital goods to sell on our platform,” said Casriel.

A meta that doesn’t give in to a price drop
The majority of analysts watching the industry predict that the meta will revise its NFT approach for crypto winter. Asset prices are down more than 60% from their all-time highs, and investors have no certainty when the market will get better.

In the case of NFTs, the situation is even worse, as trading volume has decreased by more than 70% since January. The lowest prices in popular collections like BAYC (Bored Ape Yotch Club) and Crypto Punks have already fallen significantly.

Despite these poor metrics, Casriel said the meta will keep going. He said that the industry has gone through an “overheat cycle” that has dampened investor enthusiasm and entered a bear market.

Facebook’s parent company, Meta, aims to integrate NFT across platforms to attract creators from rivals like TikTok and YouTube to Facebook. Instagram is conducting high-level tests after some creators have already used this feature.

The new feature allows creators to link third-party digital wallets to publish NFTs to the platform. You can also differentiate yourself from other posts with NFT badges that provide collectible information such as owner and issue blockchain.

In March of last year, the company announced plans to create an Instagram NFT marketplace, but it seems to be taking a cautious approach to development.

Meta announced on Facebook that it has started testing polygons and Ethereum-based NFTs with a group of creators. The company’s product manager, Navdeep Singh, said on Instagram that the feature will allow users to display NFTs on their pages as a cross-launch option.