On Aug 29, Facebook and Instagram’s parent company Meta announced that its users will now be able to post digital collectibles and Non-Fungible Tokens, or NFTs, across both platforms by simply connecting their digital wallets to either site.
We’re introducing the ability to post digital collectibles across @facebook and @instagram. You can now connect your digital wallet to either app to share your #NFTs on both.
What NFT are you excited to share? https://t.co/wa2wkWfI7p pic.twitter.com/SlpwAuY02c
– Meta Newsroom (@MetaNewsroom) August 29, 2022
While Meta’s announcement may have seemed to some like a mass adoption win for some digital asset enthusiasts, not all members of Crypto Twitter were thrilled by the news.
Skeptical users took to social media to express concerns surrounding the security and privacy of the data disclosed when digital wallets are connected to these social media platforms.
Twitter user and Web 3 community member NPC-Picac tweeted, “I don’t think entrusting digital collectibles to connect to “Meta” is in any way smart”
With Facebook having lost the data of
5 million users, 2013
14m, 2018
50m, 2018
600m, 2019
540m, 2019
1.5m, 2019
419m, 2019
309m, 2019
533m, 2021I don’t think entrusting digital collectables to connect to “Meta” is in any way smart https://t.co/1V6ycTvJji
– NPC-Picac (@PicacKc) August 29, 2022
Another Crypto Twitter community member, CryptoBartender, raised concerns about what Meta could possibly do with the data they access from digital wallets, tweeting, “So they can figure out which wallets are yours and keep tabs on you and your crypto activities?”
So they can figure out which wallets are yours and keep tabs on you and your crypto activities? This is worse than the government iwo. https://t.co/JoGsE46U2p
– CryptoBARTENDER (@CryptoBartender) August 29, 2022
Some users felt that publicly attaching valuable digital assets to one’s identity could turn users into targets for fraud and theft. A user operating under the handle famousfxck questioned, “This is great for adoption. But isn´t it also dangerous?”
This is great for adoption. But isn´t it also dangerous? Imagine posting on your personal account that you own a rare NFT which is worth millions $…. https://t.co/kDWXZDdQfH
– Famousfxck (@famousfxck) August 29, 2022
Others shared their thoughts on individuals broadcasting even more personal data for the benefit of companies that have long histories of abusing users’ data and privacy.
Yeah give the clowns who abuse your personal data access to your wallet and trading history https://t.co/KtMI4mpGCS
– ledegend.eth | 0xCollector.eth | browse.web3 (@ledegend_eth) August 29, 2022
In the announcement, Meta disclosed that, as part of keeping its platforms safe and enjoyable, “people can use our tools to keep their accounts secure and report digital collectibles which go against our community guidelines”. Meta has not yet shared any concrete plans it has to keep its user’s digital wallet-related data safe.