Snapchat is exploring ways to let NFT artists showcase their designs on the platforms as augmented reality filters. Snapchat is testing the feature with select creators until the end of August.
Social media platforms are increasingly turning to digital collectables to attract influencers and other creators. Twitter was the first social media app to introduce NFTs on its platform in collaboration with the NFT marketplace OpenSea. In may Meta also started testing digital collectibles to select US creators as a way to leverage new tools to earn a living.
While the crypto market hits an all-time low, Creators around the world are quickly adopting to use new technologies like NFTs to take more control of their work and monetize it. Social media applications are also quickly adopting NFTs on their platforms to stay relevant and attract more creators on their platforms.
Snapchat will rely on developers who use its platform to create playful AR filters for users known as lenses that will be overlaid onto real-world images.
Developers on Snapchat will be able to mint or create NFTs via a third-party service off the platform and then be transferred back to snap as Lenses. the technology would ensure those filters are attributed to the creator. Snapchat will not charge creators for showcasing NFTs but is looking toward establishing partnerships with third parties that will help creators monetize their designs while on the app.
However, we are not sure if NFTs will be available on the premium version of Snapchat Plus which added a couple of new features or just the regular snap app.