In March 2022, Meta CEO and creator Mark Zuckerberg teased Instagram NFTs, subsequently expanding on them in a Facebook post in May 2022. It featured a video from an interview with Tom Bilyeu, the originator and host of the “Impact Theory” show.

We’re starting to test digital NFT collectibles on Instagram so that makers and collectors can display their NFTs.

Mark Zuckerberg, CEO Meta

He also described an individual’s NFT collection as an expression that allows them to choose what they want to display to the world through their profiles.

According to Crypto Marketing Center, the head of Instagram, Adam Mosseri, added to the enthusiasm for NFT fans when he tweeted, “We’re starting to test digital collectables with a select group of American creators and collectors this week, who will be able to share NFTs on Instagram. There are no charges for uploading or sharing a digital collectable on Instagram.”

How will NFTs work on Instagram?

The lower right corner of NFT posts will have a tag that reads “Digitial collectable,” indicating that it is an NFT. They’ll also glow, making them stand out even more from conventional posts. When someone taps the post, story, or message, they’ll see links to the owner’s and creator’s Instagram profiles, the piece’s name, and the artist’s description.

Instagram will first support NFTs on the Ethereum and Polygon blockchains, with Flow and Solana to follow soon after. Rainbow, MetaMask, and Trust Wallet wallets will be available first to artists and collectors, followed by Coinbase, Dapper, and Phantom wallets.

Zuckerberg indicated in his video introduction that he hopes to bring NFTs to other Meta platforms. He indicated that Facebook would be getting the feature soon and that other Meta apps may follow suit later.

The total number of Instagram users who would soon see the NFT functionalities was not confirmed by Meta executives. If they see the capability appear on the social platform, they would most likely check it out out of curiosity.

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Diem revealed on Monday that it had transferred its assets for around $200 million to Silvergate, a crypto-focused bank with whom it had already collaborated to create a stable coin anchored to the U.S. dollar the year before. In a press statement, Diem CEO Stuart Levey claimed that the move to sell resulted from negotiations with federal authorities that the initiative could not advance.

Diem singled out by authorities

Another Diem founder, former Facebook executive David Marcus, claimed that authorities had slighted Diem because of the Diem-Meta relation; alternatively, the plan would have been approved.

“Here’s to yet another chapter with a maybe more ‘acceptable’ promoter driving the vision forward. There will be ample time in the future for me to properly reflect on the behaviour of certain politicians and regulators along the way, but for now… onward!”

David Marcus, Co-founder Diem

The initiative was launched in 2019 and had aimed to make spending money using tokens tied to the U.S. Dollar as simple as sending a message. However, it ran into regulatory resistance right from the beginning. Facebook, now known as Meta, created the app.

Although Facebook created the Libra Association to oversee the token with other companies to protect it, many people feared Libra would increase the tech giant’s power. Many members of the Libra Association quit following the announcement.

Stablecoins potential impact

Libra Association was also a pioneer in stable coins. These coins were designed to have a fixed price to encourage regular transactions and are a novel idea that didn’t conform to regulators. The stable coin market has grown since 2019, and governments worldwide have begun to pay attention and consider legislation. The U.S. Treasury deemed stable coins to be similar to banks in November. The White House plans to order federal agencies to regulate cryptocurrency as a matter of national security. Officials were especially concerned about the project’s potential negative impact on financial stability, data privacy, and money laundering.

Although Meta’s ties with Diem are over now, it is worth noting that Silvergate or other players may be able to revive the project. Even though Meta’s reputation eventually sank it. As we know the plan to equalize cryptocurrency transactions might come true if the stablecoin market increases.

Anne M, Hack Growth specialist at Crypto Marketing Center

Diem’s design was transparent and more regulator-friendly than many other stablecoins. It was unlikely that Diem would ever see the same backing as once, with almost all Libra founding team leaving Meta.

The post Meta Who? Mark Zuckerberg’s Crypto Plan Fails appeared first on Valahia.News.

Starting today, we’re updating our eligibility criteria for running ads about cryptocurrency on our platform by expanding the number of regulatory licenses we accept from three to 27. We are also making the list of eligible licenses publicly available on our policy page.

Facebook announcement on Crypto Ads, December 1st

This is a big announcement in the cryptocurrency world. Cryptocurrency marketing agencies to start using this channel again will have more chances of succeeding in this highly competitive world, and this is what the specialists are expecting.

The fact that Facebook/Meta allows crypto marketing again is a big change in the game. As we know it, Crypto marketing will definitely receive a boost, and the crypto marketing agencies, like ours, will take advantage of it. Facebook was an essential channel for crypto three years ago, and we expect this to happen from now on as well. Yes, meanwhile, we have adapted our strategies, but this is going to help us even more now. We will use Facebook Ads again, and we are ready to embrace the potential of Meta.

Anne M, Hack Growth specialist at Crypto Marketing Center

Some say it’s a surprising decision, though, especially at the moment, especially when it’s coming from Meta. Last October, Meta launched its first digital wallet, and it even had its cryptocurrency ready to be launched. Diem. Have you heard of it? You probably haven’t, as it wasn’t even established. It’s there, waiting for the Metaverse to be ready. And when it is prepared, it will disrupt the crypto game.

This crypto thing is going to be huge, we tell you!

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Young people (18-24 years old) choose videos (72%) and Instagram stories (45%), whilst individuals 35-44 years old prefer live streaming (19%). People aged 45 to 55 are interested in posts from their favorite brands (44%), as well as 360-degree photographs and movies (29%). People over 55, on the other hand, continue to value articles (61%) and audio content (33%).

Romanians used the internet to a larger extent than in prior years, according to the same source. As a result, they were more active on platforms (53%) and social networks (48%) and made more payments (55%) and online purchases (52%).

Because of the limits and difficulties they faced at this time, they read news online more regularly (48%) and watched movies and series more frequently (43%).

At the same time, in the context of the COVID-19 pandemic, urban Internet users in Romania accessed social media mainly to spend their free time, to relax (65%), but also to keep in touch with loved ones (64%), reasons found especially in adults over the age of 45. 

Working in Social Media, I noticed that nowadays people spend more than 2 hours a day on internet. So it’s important for companies to promote their businesses on social media platforms, where their buyers spend soe of their leisure time. Instagram remains the most used platform among young people, which is to be taken into account by the business owners who address this category.

Cătălina N. from TUYA Digital, Social Media Specialist

However, Romanians also continue to watch TV. According to the same study, 64% of the respondents watch TV with their family, and 41% of them confessed that in the last year, they watched more TV or online programs for children than they did before the pandemic.

Between September 8-15, the online survey of 805 people over the age of 18 was conducted by Spark Foundry media agency.

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The app allows users to create and share canvases, which are basically mixed media “artsy” collages created using a combination of text, images, and/or GIFs.

Anything you make in E.gg can be given its own unique URL, allowing others to view your content even if they don’t have the app installed themselves. If you do use E.gg, you can browse through other people’s work directly in the app. Also, you can easily reuse the content of other people on your own pages with attribution. 

“E.gg is an experimental new platform for weird and wonderful expressions of who you are and what you love”

Jason Toff,  Facebook Product Manager

The question E.gg aims to answer is whether a more low-pressure, creative tool can help give people the power to express themselves more freely.

E.gg is available as a free download from the iOS App Store in the U.S. Users can also view a few sample creations via http://e.gg.

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The pro-Trump network acting in Romania was composed of 35 fake Facebook accounts, many of them posing in Americans, and 88 Instagram accounts. The reach of the network was rather small, with only 1,600 accounts following the Facebook pages and 7,200 followers on Instagram. Yet, if massively shared, the messages posted could’ve reached hundreds of thousands during the election campaign.

Similar story in 2016: Romanian influencing pro-Trump campaign

It might have ring a bell for you, right? Romania – Trump – elections. Doesn’t it?

If not, let us remind you of what happened in 2016. During the campaign, one website was responsible for 4 of the 10 fake news which influenced the American presidential elections: Ending the Fed. Collectively, the four stories generated approximately 2,953,000 engagements. Ending the Fed’s Facebook page, titled End the Fed, has 350,000 Likes.

The funny thing is the pages were established by a Romanian, Ovidiu Drobota, 24 years at that time, who succeeded in getting more than 3.4 million users for the website a month at its peak. The users would read fake news, such as “Pope endorsing Trump campaign” or “Hillary Clinton sold weapons to ISIS”, which are obviously fake. Yet, the “news” were massively shared across Facebook at that time, directly influencing the pro-Trump votes.

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