2023-11-03 10:58:18

MATIC price soars 13% amid Meta news on Polygon-powered NFTs

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Invezz
By Benson Toti

By:

Benson Toti

Benson is a News Reporter at Invezz handling breaking news, interviews and market analysis. He made his first investment… read more.

on Nov 3, 2023

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Polygon (MATIC/USD) soared after Meta (NASDAQ: META) announced an expansion of its support for Polygon-powered NFTs.

The latest piece of cryptocurrency news from Meta is that Instagram users can now create and sell their own non-fungible tokens (NFTs) on Polygon via a new integration of an end-to-end toolkit.

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The news also comes shortly after the company expanded its NFTs feature to Solana- the fourth blockchain platform to have the functionality after Ethereum, Polygon and Flow blockchain. The NFT feature for Facebook and Instagram also supports the Phantom Wallet.

Meta adds new Instagram NFT toolkit for Polygon

Meta announced on Wednesday that its Instagram users are set to access a feature that will let them use Polygon to mint, display and sell their digital collections. The Polygon-powered digital collectibles will give creators one more avenue to engage with their fans, as well as benefit from monetisation opportunities, the Mark Zuckerberg led tech giant noted.

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