Tech companies are entering the crypto world and trading with non-fungible tokens. Now Snapchat is getting into the world of NFTs with a new feature that will let artists show off their work as AR filters, as per reports. This could be a big boost for the still-emerging world of NFTs, which has been struggling to find a mainstream home.
Snapchat introduces AR filters for artists to share their NFTs
This is a great move by Snapchat, as it will not only help artists get more exposure but also allow users to show off their NFTs in a fun and unique way. By using AR filters, artists will be able to create interactive experiences that can be enjoyed by all. Artists are able to create unique tokens by minting their artwork and adding them to their Snap Lenses.
No Charges & Monetization option for Artists
The company will not be charging creators to use this new feature–rather, they hope that the partnerships may help creators earn money from displaying their NFTs on Snap. A company reports that it will start experimenting with tokenization in August. Artists will be able to mint NFTs, then add these tokens to their Snapchat lenses.
This move would certainly increase the visibility of NFTs, which are still mostly unknown to the general public.
It is also a way for Snapchat to get a piece of the NFT pie, as more and more people are getting interested in this new technology.
What do you think about Snapchat’s decision? Let us know in the comments!
This is a really cool development that will allow artists to show off their NFTs in a new and innovative way. By adding their NFTs to Snap Lenses, artists will be able to reach a whole new audience and show off their work in a whole new light. This is just another example of how Snapchat is constantly innovating and finding new ways to engage with its users.
Other Developments on Snapchat & NFTs
Meanwhile, Snapchat has launched a paid subscription that gives “exclusive” and “experimental” features to users. The company did not offer other details on the plan but said in a statement Wednesday, “For $3.99 a month, snapchat+ will offer a unique experience to ‘some of the most passionate members of our community.’”
After using Snapchat to stay up-to-date with the pandemic, the company is now cutting back on investor expectations and suffered a 43% drop in stock price. With the news of subscription service available, though, their stock may rise again.
Recently, Twitter became the first social media platform to support NFT profile pictures. When Facebook and Instagram tested this feature in May, they allowed users to share the profile pictures they created or bought with one another.
In another update, Snapchat is now testing a new feature. Creators will be able to create their own Spotlight videos and reply back to comments on those videos. This helps creators build their own communities, just like TikTok and Instagram Reels do.
