Facebook‘s parent company Metahas integrated the decentralized data storage protocol Arweave into itself to store NFTs on Instagram.
Sam Williams, the founder of Arweave, announced the integration between Meta and Arweave in a tweet today.
Meta’s web3 leader Stephane Kasriel also confirmed the Arweave integration.
Earlier this week, Meta announced that creators at Instagram will soon be able to create and sell their own digital collections.
Starting with Meta, Polygon, and Solana, it will support NFT extractable blockchains.
Meta’s work on NFTs is the product of a long-term expectation. Because Kasriel stated in a blog post that the NFT market is still in its early stages.
“The NFT market is still at an early stage compared to where we thought. Making NFTs easier to use on Instagram will open new avenues between creators and users. This opens the door to new economic opportunities.”
Founded in 2017, Arweave (AR) experienced an 80% jump in a short time after the news and retreated a little.
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