SNAP examines plans to have users presented as a filter

SNAP checks plans that should make users possible not to present fungal tokens in his app, since social media platforms are increasingly turning to digital collectors despite the crypto crash to attract influencers and their fans.

The social media platform based in Los Angeles is preparing to test a function that would enable NFT artists to present their designs on the Snapchat platform as augmented reality filter, two people familiar with the situation.

The test that is carried out with a handful of “creators” is supposed to begin at the end of August, said one of the people.

SNAP has built up a list of developers who use their platform to create playful AR filters for users, so-called lenses, which can be overlaid.

developers can shape or create NFTs outside the platform via a third -party service before transferring them to Snap as a lenses. The technology would ensure that these filters can be assigned to this creator.

While the NFT efforts are still in an early stage, this is the first excursion into the free-range world of digital assets for SNAP, which offers its mostly thousand-year-old and younger audience of the ZRIET and cute photo functions.

Social media companies are increasingly competing to attract online talents in the hope of increasing the number of users and commitment in view of the increasing competition by the newer Chinese provider Tiktok.

snap has no plans to burden the creators for the presentation of NFTS, one person said, but it checks partnerships with third parties who could help the creators to monetize their designs.

In particular, the Snap-Rival Meta plans to give its 3 billion users access to digital collectors over time to lure developers to his apps, Fintech boss Stephane Kasriel told Financial Times last week. It hopes to build up a world-filled world that is known as a meta verse and use NFTs in the user to create and act digital goods and services, said Kasriel. Meanwhile, the smaller rival Reddit announced plans on Thursday to launch its own NFT Avatar collection.

NFTS use blockchain technology to certify authenticity and property of digital art and goods.

digital collectors exploded in their popularity last year and have developed into a global market worth $ 40 billion, which is mainly used as an instrument for speculation in retail. But when the hype has decreased, prices have fallen in line with a wider escape from crypto-assets in the past two months.

Like other social media groups, SNAP has invested in new functions to help developers earn their livelihood directly from the platform. This included, for example, the distribution of some advertising revenue with certain influencers and the offering of cash prices for the most successful posts.