Instagram now integrates NFTs – The community fears the worst

A little dox with your NFT? – Meta, the parent company of Facebook, has for several months shown its appeal to NFT. Thus, the company has just added the possibility of publish your precious NFTs on Facebook and Instagram. A feature that raises some questions in terms of security.

It has now been several years since Meta and its various subsidiaries are trying to enter the cryptocurrency ecosystem. His first attempt, now aborted, was the creation of a cryptocurrency specific to Facebook. After several brand changes, the project was finally abandoned in the face of the regulator pressure.

Finally, after this failure and faced with the enthusiasm encountered by NFTs, Meta decided to change slot by doubling down on the non-fungible tokens.

At the beginning of August, the president of Meta, Mark Zuckerberg announced the deployment of NFTs on its flagship social network, instagram. Thus, users from more than 100 countries now have the option of using their NFTs as their profile picture.

More recently, it was the turn of Facebook to host NFTs. Thus, on August 29, Meta announced theintroduction NFTs on Facebook. It is therefore possible to connect your wallet to Facebook or Instagram to share their NFTs on social networks.

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Obviously, the addition of these functionalities is not without its share of questions in terms of private life.

Thus, we already share a lot of information with Meta, whether via Facebook or Instagram. From now on, Meta will also be able to spy on the wallets of its users having linked them to their account.

A boon to better classify the profiles of each user according to their income.

At a time when many activists are advocating a rejection of GAFAMdo we really want give our information relating to cryptocurrencies to the latter?

Moreover, Facebook is far from being an extremely secure platform for our data. As @PicacKc pointed out, Facebook is behind many data leaks during the last years. Adding that he doesn’t think ” entrusting digital objects to be connected to Meta is intelligent“.

Facebook and the problem of data leaks – Source: Twitter.

Does sharing your NFT rhyme with a security problem?

In addition, this new feature introduces important security issues. Indeed, as several Internet users on Twitter have pointed out, this could arouse envy.

“It’s great for adoption. But isn’t it just as dangerous? Imagine posting on your personal account that you own a rare NFT worth millions of dollars…”

1662106084 201 Instagram now integrates NFTs The community fears the worst
The inherent dangers of sharing NFTs – Source: Twitter.

Indeed, many are stories of aggression s motivated by holding cryptocurrencies. Indeed, on Twitter many users show off their precious NFTs. However, the latter are for the most part much more anonymousthan on Facebook.

Meta is not the only major company to have taken the shift of NFTs . Thus, other brands such as Nikehave reaped significant profits via NFTs. In total,Nike’s NFT sales revenue hit $185 million.

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Instagram now integrates NFTs – The community fears the worst

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