According to reports, one of the world's largest social media platforms recently expanded its NFT (non-fungible token) initiative, allowing users in more than 100 countries to connect wallets and display and promote their digital collectibles. The platform now reportedly supports Coinbase, Dapper, MetaMask, Rainbow and Trust Wallets along with the Ethereum, Polygon and Flow blockchains.
While social media platforms expand user access to NFTs, consumer watchdog Truth in Advertising (TINA) has reportedly sounded the alarm about the celebrities who promote them. According to its recent blog post, TINA has issued warning letters to more than a dozen celebrities, putting them on notice for potentially promoting digital assets without including proper disclosures as required by both the Federal Trade Commission and the Securities and Exchange Commission. (For more on the TINA letters, you can read our sister blog post here.)
For more information, please refer to the following links:
- Instagram Extends NFT Sharing to More Businesses, Creators, Users in Over 100 Countries
- Consumer Group Demands Snoop Dogg, Paris Hilton, Other Celebs Disclose NFT Connections
- TINA: Celebrities Promoting NFTs
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