Meta was rolling out NFTs to more than 100 countries for Instagram Users
A multinational corporation called Meta is the owner of Facebook, Instagram, and WhatsApp. It would be accurate to state that Meta has monopolized the digital media industry and gained complete control. Since the beginning, Meta has been incredibly interested in Web3 technology, particularly in Metaverse and NFT. The company consistently grabs attention for its actions in the web3 industry. It was recently revealed that Meta planned to release its own metaverse for a fitness app, and it was also suggested that Meta would buy out its rival company in the process. Some think that Meta’s monopolistic strategy in the metaverse, in particular, could cause a downturn in the entire sector.
Apple has been a fierce competitor for Meta in the metaverse, but Meta has managed to stay at the top for a very long time. Additionally, Meta has shown an unmatched interest in NFTs. Meta began developing a module early this year in an effort to enable NFTs for its millions of users. As a result, Meta has developed a new NFT program that will be made available on Instagram in more than 100 countries. It is clear from the tweet that Meta is introducing a new NFT program to draw more users into its world. Mark Zuckerberg then said that Meta was sending digital collectibles called NFTs to more than 100 countries.
Recently, Coinbase was the subject of all the bad press. But as we can clearly see, Meta’s Coinbase integration is definitely on the correct track. The co-founder of Meta continued by announcing the integration of Coinbase and Dapper for the launch of the new NFT. When Meta kept putting out the information, the share price of Coinbase went up almost 30% almost immediately.
It would be reasonable to assume that the young people of today’s age utilize social media for a variety of purposes. I think Meta’s strategy of encouraging users to use Instagram as a platform is a good one. The Web3 technology is one of Meta’s main growth drivers today, and the company has set its sights on controlling the market, at least on the surface.