Snapchat plans to allow users to display NFTs as Snap filters

Snapchat plans to allow users to display NFTs as Snap filters

Snapchat might be one of the latest social media outlets to join the digital collector craze. Passing a a recent report by the Financial Timesthe social media company may soon be testing NFT AR filters with a small number of users.

For starters, AR stands for Augmented Reality. Snapchat has a unique feature known as “Augmented Reality Lenses” or “AR Lenses”. It allows users to add real-world enhancements and 3D effects to their stories, making them more engaging. With the introduction of NFTs in the future, users can also add digital collectibles that they have created or purchased elsewhere to their stories, making them even more compelling.

The report indicates that Snapchat will first test the feature to add NFTs to Stories before fully rolling it out later. Testing should begin in August, with a limited number of users able to participate. Artists can import irreplaceable tokens they’ve minted or created on other platforms into Snapchat as AR filters and use them to add incredible enhancements to their stories and showcase their creativity.

Will this Snapchat NFT feature be available for free?

Coincidentally, the leak came just days after the company introduced by Snapchat Plus, a premium version of Snapchat that costs money. One may wonder if NFT AR filters will cost as well to use as SP. The good news is that Snapchat will not charge users money for using the NFT filter.

How will NFT creators benefit from the Snapchat NFT filter?

According to statistics, Snapchat has around 332 million daily active users. The addition of NFTs feature will be a significant boost for digital avatar artists and sellers. These individuals can show their digital collectibles to many people on the platform, some of whom may give them a job. Snapchat is also likely to gain in the long run as more NFT vendors join the social media platform to take advantage of the massive customer opportunity.

By the way, Snapchat is not the first social network interested in NFT. Twitter and Meta have also recently introduced some NFT-related features in the past few months.

In January of this year (2022), e.g. Twitter has unveiled NFT profile pictures exclusively for Twitter Blue subscribers. This feature is very similar to the upcoming Snapchat NFT filter feature as it allows users to show off their NFTs just like the latter. Additionally, users can upload their profile picture to the NFT they own by linking their blockchain wallet and verifying their address.

Similarly, Meta posted on Twitter via Navdeep Singh to launch NFT support that would allow creators to showcase their work on their timeline. On June 30, 2022, Meta’s technical program manager shared a clip of his work on a social media platform. It’s very similar to what Snapchat plans to test soon.

On July 21, Snapchat will announce its quarterly financial results. We’ll be interested to see if the company develops this further upcoming NFT support. We believe they will because it would be a great way for Snapchat to attract investors and increase the value of its stock. After all, business people find it attractive when a company is constantly coming up with great ideas to attract customers and generate revenue.

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