MetaPlatforms (NYSE:FTC) has many options on its way to the metaverse, and NFTs could also play a special role. Finally, digital ownership is an issue this new focus may bring. Social networks play an important role in accepting and promoting these assets.
The management of Meta Platforms itself has already led to the introduction of adaptation. Early analysts are now also asserting that the technology’s heavyweight in the US is likely to gain much more acceptance if it is adapted on social networks. Let’s take a look at the details.
Definition platforms: NFT turbo engine which is still theoretical
As part of the analysis, Deutsche Bank has now commented on the possible implications of the implementation. Meta Platforms management has made it clear that Instagram can be the first platform to discover the NFT market by itself. The trading and display of digital assets should be critical application examples. Or perhaps create these digital assets via the platform.
For digital assets, this could be a multi-billion dollar opportunity. Preliminary estimates suggest that NFTs via Instagram could boost sales by $8 billion. That would definitely be a turbo in this market. Meanwhile, the first very broad adaptation of digital assets with a certain view of other users as well. However, the question remains about what added value they bring to the user, apart from collecting and displaying it on their digital whiteboard.
However, meta platforms will be on the way to making NFTs more socially acceptable. As well as taking more steps into the metaverse at the same time. Ultimately, in the future, top management will take care of taking digital social networks to a new level. Assets can also play a crucial role in this.
Meta platforms may be able to use the NFT adaptation to monetize Instagram further and generate more sales from these digital assets. But intrinsically virtual assets are likely to be the beneficiaries of such a move. The market will suddenly experience much greater acceptance. Being able to create from a platform that many users are familiar with also creates more acceptance and reach. Or perhaps more common.
As such, investors with a commitment and interest in this market can closely follow Meta Platforms’ plans. This is perhaps the first step in introducing this digital asset to a broad spectrum of consumers. The fundamental question remains whether the broad spectrum of consumers can do something with these digital assets.
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Vincent owns shares in Meta Platforms. Randy Zuckerberg, former head of market development and Facebook spokeswoman and sister of Mark Zuckerberg, CEO of Meta Platforms, serves on The Motley Fool’s board of directors. Motley Fool owns and recommends shares in Meta Platforms.