NFTs are all the buzz right now; several companies have begun to see their profitability and thus are integrating them into their services and platforms.
NFT stands for Non Fungible token; they are digital tokens used to represent real-life objects like art, music, in-game items, GIFs, etc
Some of the companies exploring NFT Integration are :
Adam Mosseri, Instagram head, announced on May 9, 2022, that Instagram would start testing NFTs with a few creators in the United States this week. People who are part of the test will be allowed to share NFTs they’ve either made or bought on their feed, stories, and messages.
Although only a limited number of people have access to the Instagram test, Mosseri outlined that the company plans to roll out more functionality related to NFTs in the future once it gets feedback from this initial testing stage.
Creators who are part of the initial NFTs test include : @adambombsquad, @bluethegreat, @bossbeautiesnft, @c.syresmith, @cynthiaerivo,@garyvee, @jenstark, @justmaiko, @maliha_z_art, @misshattan, @nopattern, @oseanworld, @paigebueckers, @phiawilson, @swopes @yungjake.
The American social network has integrated NFTs into its platform through NFT profile pictures for Twitter blue subscribers. Twitter Blue is a monthly subscription version of Twitter that gives customers exclusive access to premium features and app customizations for a fee.
Users can now link their Ethereum-based wallets to their accounts and display their digital collectibles as their profile pictures. These wallets include Coinbase Wallet, LedgerLive, MetaMask, Rainbow, and Trust Wallet.
Coca-Cola
Coca-Cola launched an NFT auction on July 30 for International friendship day; It showcased its first collection of digital collectibles that re-introduced a few of Coca-Cola’s iconic acquisitions for the metaverse. Each NFT, they said, was inspired by shared moments of friendship.
The auction comprised unique items like the futuristic redesign of Coca-Cola’s delivery jacket, which can be digitally worn in Centraland, a ‘decentralized 3D virtual reality platform.
The proceeds from the campaign all went to Special Olympics International, the world’s largest organization for disabled athletes.
One of the world’s largest social networks, Reddit, has also integrated Ethereum-based NFTs into its platform. They recently sold four(4) NFT avatars for $400,000 each. These NFTs are currently the only authorized NFTs on Reddit, Rumour has it that this is just a testing stage, and more information is to come concerning Reddit’s NFT integration.
Youtube
YouTube is launching new creator tools that will allow creators to sell content as NFTs so fans can “own” videos. These tools will give fans a “verifiable way” to “own unique videos, photos, art, and even experiences” from their favorite creators.
However, NFTs do not intrinsically transfer copyright over to new owners, so it is unclear how YouTube will tackle this.
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Image Source – Milad Fakurian
