Mark Zuckerberg confirms NFT feature launch for Instagram and Facebook

Mark Zuckerberg confirms NFT feature launch for Instagram and Facebook

By Charles Thuo - 2 min read

Mark Zuckerberg, Meta (Facebook) CEO, said via a post that the Non-Fungible Tokens (NFTs) feature will be introduced to Facebook and Instagram.  The features will enable creators and collectors to showcase the NFTs of their choice on their accounts and profiles. This feature will cut across both Instagram and Facebook users.

According to the report, the Engineers from Meta will be carrying out internal testing of the NFT feature that will kick off this week.

Additionally, Meta is also planning to leverage its Spark AR studio tools to provide augmented reality support for NFTs on Instagram stories. Even though the company has confirmed the news, they have not yet disclosed the official rollout date for the NFT feature.

Meta and NFT – how it all started

Way back in March 2022, Meta’s CEO had teased the feature noting that the company was exploring the possibility of adding support for digital collectibles to their platform. Besides, the CEO also noted that there was a possibility of NFT minting support arriving on Facebook in future months.

With the help of blockchain technology, the Meta NFT feature might introduce more than 3 billion monthly users across the world to digital collectibles. Besides, the social media giant released a preview of what collectors and creators will be expecting from the coming integrations which include augmented reality on Instagram stories.

Moreover, reliable sources also said that Instagram will be supporting NFTs that are powered by Solana, Ethereum, Flow, and Polygon. Besides, Twitter, Facebook’s rival, had recently revealed NFT profile photo integration of its Blue service for paid subscribers.

Bitcoin loses crucial $35000 support – Should you hold or sell?

By Motiur Rahman - min read

Bitcoin (BTC) has continued its fall for 5 days in a row now. The mega-cap is threatening to enter a bear market barely weeks after surging above $45,0000. But as the weakness continues, investors are faced with a big dilemma. Should you hold or sell? More analysis on this later but first some pointers:

  • Bitcoin has lost the crucial $35000 support which is psychologically important.

  • The coin went below $31,000 at one point during intraday trading albeit its recovered.

  • The broader sell-off in the crypto market is likely to continue in the coming days.

Data Source: Tradingview

Bitcoin (BTC) – Hold or sell

The one big dilemma Bitcoin investors face is whether to hold or sell. Now, there are many ways to look at this. On the one hand, if you bought BTC a few years back, you are still in the money. However, most investors will always focus on the future outlook as opposed to what has already happened. 

So, in order to decide whether to hold or sell BTC, it is important to know where it’s heading. The period of weakness we have seen over the last few weeks is not going to end soon. The slowing global economy and red-hot inflation are pushing crypto assets down. 

These economic conditions will not abate anytime soon and as such, BTC investors must be ready for a prolonged period of volatility. Nonetheless, BTC is still a hold. The coin will likely return above $50,000 before the year is out.

How to view this sell-off

Sell-offs in 2022 have become all too common in crypto. This one however appears to be more decisive since it is correlated to equity markets. 

Perhaps we are seeing the ultimate Bitcoin correction. As such, it would be best to wait for the price action to stabilize a bit before buying BTC.