NFTs, or Non-fungible Tokens, are digital assets that are powered by the blockchain, which also powers the metaverse and a significant portion of the Web3 if not all of it. NFTs have begun to penetrate social media platforms, and there are a number of advantages that can be derived from this. Nevertheless, there appears to be an intriguing merger taking place.
The new Web3 components were added to the respective social media platforms of social media giants like Twitter and Facebook. This could be because of one of the following: They want to get into the NFT world and show that they are pioneers, which they are, or to be a part of the changes happening in the world. Given Twitter's rise to prominence and Instagram's subsequent success, there appears to be a lot that can be gained from the current transition.
Given that NFTs are crucial components, if not the future of the NFT industry, they have already begun to dominate the world. India, the United States, Europe, and the rest of the world already have a few NFT marketplaces, and it goes without saying that there will undoubtedly be many more. This demonstrates that the association of NFTs and social media is not surprising because it will only expand its reach further.