If you talk about the hot and happening things in the crypto world for the last few months then the topic which would rank at the top without any doubt would be NFTs. It has seen some crazy investment pouring into it as well as some even crazier returns too. Even though a bit of air has got deflated from the NFT hype bubble as people continue to step away from investing in 'digital artworks'
On the other hand the number of people who feel that NFT is the next big thing is quite significant as well. They do have a valid point for their defense which says that it is too early to expect anything NFT related to achieve mainstream adoption. Looking at the spending on buying these digital arts, does indicate many investors are positive about NFTs and it's future.
But regardless of which side you're on, NFTS are likely to get another boost. As per a report Meta (formerly Facebook) is coming up with its NFT trading and display plans.
What's On Facebook's Mind ?
Right now it seems Facebook (Meta) is looking forward to establishing it's own NFT ecosystem. Facebook will also be facilitating devoted NFT communities and eventually turn into a one-stop destination for NFT holders for their discussions. At the moment if you want such places, then Discord it is. Most probably Facebook is eyeing getting that spot. The possibility of Facebook overtaking Discord in such operations is hugely likely as they are bringing in a platform where you can do all the trading activities for NFTs but on top of that, you get similar minded people at the same place too.
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On the flip side, it could cost Facebook negatively as well. You see the amount of scams and questionable activity that goes on through crypto is huge, even though that is not representative of the entire ecosystem but it is a fact that one can't ignore. Moreover, it becomes an even more concerning element due to the lack of legal support available to the people who are the victims.
Will it be successful ?
To be very honest NFTs have huge huge potential is what I feel personally. If a big entity like Facebook comes all in for the integration of NFTs on their platforms, it would mean a positive impact for sure in the crypto market.
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If we look at it with a wider perspective we would notice that Crypto itself is quite in its early stages and NFT is just a sub-branch of it. A lot of work is needed to be done to run the entire NFT thing smoothly, but with the potential it has, it would be too hard to ignore and would garner attention ultimately leading to develop the regulations it needs.
The Ultimate Aim
It is a well-known fact that Meta wants to encourage the eCommerce aspect in the NFT space at the end of the day which is solely the concept of the famous 'Metaverse' project, which is hyped to be the successor to the internet in the coming decades. We can see the integration of NFT trading as an initial step towards the final goal.
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Apart from Facebook, Instagram too is currently exploring the same element.
Posted Using LeoFinance Beta
Nfts the worthy future yet to be unfold to many soon
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