Rises 60%: Meta Collaboration Blows This Altcoin Price!

The altcoin price increased by 60% after it was revealed that Meta plans to integrate the Arweave project services into Instagram. Arweave services will be used to store digital collections recently added to the popular social network. Details are here.

Meta, the parent company of social media platform Instagram, is scrambling to break into the crypto ecosystem. For now, Instagram is working to enable its creators to create, deliver and sell NFTs.

As Koinfinans.com previously reported, Instagram is currently preparing to launch a marketplace to sell NFTs inside the app. The company announced that it chose the Polygon (MATIC) blockchain first for this. According to Stephane Kasriel, responsible for Web3 at Meta, all these innovations are primarily aimed at attracting content creators and making them win.

Meta will use Arweave (AR) to store NFTs produced by its manufacturers on Instagram. reported. The news about the integration of Arweave’s decentralized storage services has lifted all cryptocurrencies in this industry, especially AR. Filecoin (FIL), one of the major projects operating in infrastructure and storage apart from Altcoin AR, has shown a significant increase in the last 24 hours with a 15% increase.

In addition to these, it is worth noting that there is another development regarding FIL: Filecoin Foundation conference. The anticipation of important announcements, including the Filecoin virtual machine, gives the altcoin price an additional boost.

Overall, the value of this industry rose 11.7% to $4.57 billion, according to CoinMarketCap. The transaction volume of project coins in this category increased by 191% during the day.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


source site-6