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Facebook and Instagram NFT Market - What to expect?

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@badbitch
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Currently, this is flying all over the place, a few days ago a friend of mine talked about the announcement of an NFT market on Facebook, but I thought of it as a joke and casually replied; "sounds like centralization"

There are quite a lot of untold theories surrounding it, all there is at the moment is the announcement that there will be an NFT market on Facebook and Instagram, and users will be able to use NFT profiles, this following the recently made available feature for twitter NFT profile for IOS users, at least the story carries that backend assertion. Now we're dealing with the big brands joining the game, Facebook and Instagram is a big brand powered by smaller brands which are users who don't really understand how much of a product of profitability they are, yet without a pay.

That said, for starters, this is an expansion, not for Facebook, or Instagram, but for crypto. The more we let these tech giants do the marketing for us with the developments for capitalisation, the closer we grow to that 1 billion users. The internet is an open book, it only takes a few influencers to leak a secret and there everyone digs it up.

Shifting a bit to Facebook end, one or people may wonder and ask questions, what network would this be built on? How interoperable would it be? For starters, we are dealing with a capitalist economy, the only networks that are expected to seamlessly interact will be the company's, meaning Facebook, Instagram and probably WhatsAppb at some time in the future. This means a lot of things, especially for artists looking to create on this centralized network. We can expect an integration of KYC and all sorts of verification processes, how well do we expect it to work out?

Building a new blockchain

Meta would be looking to sweep up all the volumes it can, looking at all the NFT market places including Opensea, Rarible and the rest, Meta won't be looking to distribute any value towards other networks, so we should be expecting a network powered by Meta? Running on a token called? Deim?

Don't tell me that's not it…

These are speculations, but valid, are the points. Facebook as we know has been eyeing the digital currency community. How else do you capture the eyes of billions of users than bringing basically all they see in other networks back home? Giving them all that tools in a way they don't leave to do better jobs?

Web 3.0 is still an underdog, very few people know of its existence, so not many understand the value of smaller brands on a decentralised network, what people currently want to have is everything trending at their fingertips, and doesn't Meta just do that job well?

Many people are beginning to talk about NFTs, and with NFTs comes cryptocurrencies, sometimes I wonder what certain people think when they say one is better than the other, like calling NFT out as the big innovation, like what do you buy an NFT with? This is obviously not going to be a USD payment integration thingy, Facebook and Instagram will be looking to power this network with a different currency, so the big question; what network and what currency? If my speculations are right, this is where Deim finally finds a way into the system, or a rebranded Facebook-issued currency.

What effects are expected?

This is an attempt to keep celebrity creators from utilizing other networks for the arts and producing, because with them comes the fans, and that's pretty much everyone, again, it's a way of pulling all that value, traffic and volume to Facebook and Instagram, it's a big one, likely to have more influence than twitter tipping integration ever had. The bottomline remains as to how centralized this will be, this is a publicly traded company, regulators personally will be on the lookout to attack, and Meta will be on the watch to censor contents, don't be surprised when you're charged 10,20-30% on sales too, haha…

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