After recently announcing that its subsidiary ‘Instagram’ will support NFTs in the Ethereum, Polygon, Solana and Flow blockchains, Meta has now unveiled that Facebook will be using the Polygon blockchain to extend its venture into the Web3 space.
The news broke via a tweet made by Polygon’s CEO Ryan Wyatt, who stated that the social media powerhouse has opted to partner with Polygon for its Web3 endeavours because of its ‘carbon neutral footprint’ (which came as part of the blockchain’s $20 million ‘Green Manifesto’ in April), scale, and ‘the developer ecosystem choosing to build on Polygon’.
???? We're excited to share that @Meta is partnering with @0xPolygon as they make their push into web3. ????
Facebook is choosing Polygon due to:
???? Our carbon-neutral footprint
⛓️ The scale we can offer
???? The developer ecosystem choosing to build on Polygon. $MATIC ???? $FB pic.twitter.com/lk7D5ixgcB
— Ryan Wyatt (@Fwiz) May 9, 2022
With regards to the ‘scale’ element here, Polygon is investing in brand new zero-knowledge (ZK) technology, which many believe will play a key role in introducing the masses to Web3. Intuitively, this is something of huge importance to not only Facebook but Meta as a whole, as it has been reported that 2.87 billion people have at least one active Facebook, WhatsApp, Instagram or Messenger account which they use every day.
Although it is unclear as to when blockchain elements will be rolled-out across all of Meta’s social media subsidiaries, it is believed that Instagram will be the first platform to launch the integration.
