As the social media behemoth doubles down on NFTs, Meta is creating a metaverse wallet.

While expanding its NFTs test and introducing new features for creators on Facebook and Instagram, social media giant Meta is developing a wallet for the metaverse.

"Ideally, you should be able to sign into any metaverse experience and everything you've bought should be right there. There's a long way to get there, but this kind of interoperability will deliver much better experiences for people and larger opportunities for creators,  "CEO of Meta, Mark Zuckerberg, stated today. Additionally, he disclosed that Meta Pay had replaced Facebook Pay.

The CEO asserts that "proof of ownership will be important, especially if you want to take some of these items with you across different services," as "in the future there will be all sorts of digital items you might want to create or buy."

Aside from extending its promise to not charge for subscriptions, badges, paid online events, and bulletins until January 1, 2024, Meta also revealed that it is expanding the ways that creators can make money on Facebook and Instagram.

The business added that "a handful of additional countries." and more international creators will now have access to its Instagram test of digital collectibles.

"Creators and collectors will be able to share their digital collectibles across Facebook and Instagram after we begin rolling out the feature on Facebook with select US creators at a later date. We’ll also soon start to test NFTs in Instagram Stories with SparkAR, " they continued.

The company stated that "as we build for the metaverse, investing in web3 technologies and digital collectibles like NFTs is a crucial part of our long-term commitment to creators."

By fLEXI tEAM