Meta has announced plans to launch their very own NFT marketplace that will enable Facebook and Instagram users to purchase, sell and trade NFTs that can then be seamlessly shared and displayed to their profiles.

The news was met with harsh criticism from proponents of blockchain technology, the underlying tech behind non fungible tokens and most cryptocurrencies. Blockchain was originally designed to act as a distributed ledger with no centralized authority, however many argue that Meta’s plans directly undermines this core concept. On the other hand however, others point out that this is yet another example of a tech company adopting what many believe will be the primary technology used for virtual commerce in the future. 

This segment aired on 5 Live on Jan. 20, 2022