According to TechCrunch, Meta has launched digital collectibles on its Facebook platform with a few selected creators. Meta’s spokesperson revealed that the company has initiated a slow rollout that allows a few handpicked creators in the United States to publish digital collectibles on Facebook. A new tab will be made available for creators to display their NFTs on their profiles, and the tokens will be labelled as ‘digital collectibles’, as done on Instagram.
Mark Zuckerberg had announced the test a week before the launch. In his announcement, he mentioned that the test would allow creators to cross-post on Instagram and Facebook. However, the company’s spokesperson stated that the sharing feature across both platforms hadn’t been rolled out yet, although it would be coming soon.
How will this new development affect the current music business as we know it? The traditional recording and publishing models have since been disrupted following the success of a handful of artists distributing their music on blockchains, including Justin Blau and the living legend Snoop Dogg.