Meta Inc (previously Facebook) is planning to launch a funds platform that helps cryptocurrency. In a document submitted to the United States Patent and Trademark Office (USPTO), Meta filed 5 purposes for a brand new platform that it calls ‘Meta Pay”. According to trademark lawyer Josh Gerben on Twitter, the filings point out that Meta plans to launch a cost platform referred to as “META PAY” for customers to alternate old school common cash and cryptocurrencies.
The purposes search licenses “to operate as an ‘online social networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digitised assets, digital tokens, crypto tokens and utility tokens.”
Earlier this month, Instagram mentioned its customers will now have the ability to showcase their blockchain artwork within the type of non-fungible tokens (NFTs) on the platform. Meta-owned Instagram will combine with Ethereum, Polygon, Solana and Flow blockchain networks to facilitate this. Users must add their crypto wallets resembling Metamask and show their NFT possession earlier than exhibiting it on the platform.
In March, Meta Inc. CEO Mark Zuckerberg mentioned Instagram is exploring plans so as to add NFTs to the platform. “We’re working on bringing NFTs to Instagram in the near term,” mentioned Zuckerberg whereas talking at a session by Southwest, reported Engadget.
However, he did not make clear how Meta desires to implement NFT on its platforms. “Over the next several months, the ability to bring some of your NFTs in, hopefully over time be able to mint things within that environment,” Zuckerberg was quoted as saying by The Verge.
In January, a Financial Times report mentioned Meta is exploring plans to permit customers to create, showcase and promote NFTs on Facebook and Instagram. Notably, Instagram chief Adam Mosseri mentioned in December final yr that his social community was “actively exploring” NFTs. He mentioned, “Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a broader audience.” Before that, Zuckerberg additionally spoke in October about how the metaverse might want to assist “ownership of digital goods or NFTs.”
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With inputs from TheIndianEXPRESS
