Meta Introduces New Upgrades Focused On Facebook Stars and NFT

Meta announces new upgrades that will soon be available on both Facebook and Instagram. Additionally, the emphasis of the new features is on Facebook Stars and NFT subscriptions and purchases. Meta announced this during the Creator Week Conference, which began on November 1 and will end on November 7. The conference's online and live events will take place in a few cities, including Los Angeles, London, Bali, and Delhi. According to sources, Meta will introduce NFTs to Instagram because the company enables creators to produce and trade non-fungible tokens directly on the social media platform. In addition, users could only display their digital collectibles before this upgrade. But now, users can use the platform to create and sell NFTs for their fans and followers without relying on outside applications thanks to this new version. Furthermore, although this change marks the platform's first attempt to take on other NFT markets, Instagram has updated its commerce tools before. [caption id="attachment_58523" align="aligncenter" width="1600"] image credit: bgr[/caption] According to Meta, the company won't take a cut of sales from user revenues until 2024. However, it will be reduced by 30% to account for app store fees. According to the research, putting up a commission rate for their job resales that range from 5% to 25% is also an option. Additional details Meta also released new updates for Facebook at the same time. According to a source, the platform is expanding its capabilities and Facebook Stars' accessibility. Additionally, users must spend money on these virtual goods to present or reward their preferred live streamers. [caption id="attachment_58522" align="aligncenter" width="1600"] image credit: gamingdeputy[/caption] Moreover, as a result of the update, Facebook Stars will now be available to users for rewards for content other than live streaming on the social media site, such as photos, text posts, and videos. According to Meta, this will be known as "Professional Mode for Facebook Profiles" and will be accessible to everyone worldwide who wants to be a creator. Furthermore, a limited number of users in the United States currently have access to these new functionalities for Facebook and Instagram. In the upcoming days, other countries will also likely receive similar tools. [caption id="attachment_58521" align="aligncenter" width="1600"] image credit: engadget[/caption] Additionally, the article said that the NFT functions are currently accessible globally. Also, Meta will enable NFT videos on their profiles and add protection support for the Solana blockchain and Phantom wallet. In addition, the company will include OpenSea metadata, accessible through the app's "select collections." Lastly, these changes resulted from Meta's efforts to drive the business to develop into a marketplace where producers can profit from the capabilities they are providing.