Futurum Analyst in Residence Jared Klee analyzes the announcement of Instagram testing NFT and explores why many of the big platforms including Twitter and Shopify are doing likewise, how the companies will manage the tension between distributed NFTs and their centralized platforms, and how NFTs unlock a powerful new model for commerce.
Calls for regulation have accelerated as Capitol Hill ramps up what it sees as anti-competitive behavior to widespread abuse of technology hurting privacy, security and democracy.
Last year, Facebook had been ordered to stop collecting and combining data across its various platforms without explicit user consent. This latest ruling in Karlsruhe effectively negates the stay granted by the Dusseldorf court, and requires Facebook to once again comply with the original order. This could well trigger a domino effect of regulatory action against Facebook in the EU and the US.
Facebook has decided to rebrand Instagram and WhatsApp as “By Facebook” in order to push for app federation and to grow customer sentiment.