✨ Meta introduces NFTs to Facebook

✨ Meta introduces NFTs to Facebook 🦺 Iran passes a bill authorizing the use of cryptocurrency for imports 👆 Arbitrum network to get major upgrade on August 31

GM, vEmpions! Our motto today is: "Believe in yourself, and the world will believe in you." Yes, that is correct. If you don't believe in yourself, how can you expect anyone else to? So stand up tall, put on a brave face, and go out there and conquer the world! Check out what we've got today:

✨ Meta introduces NFTs to Facebook 🦺 Iran passes a bill authorizing the use of cryptocurrency for imports 👆 Arbitrum network to get major upgrade on August 31

🤩 @TheSandboxGame SEASON 3 ALPHA is soon to start - and we have been included in it alongside @deadmau5, @BoredApeYC, @atari and @Ledger !!! We have a lot of things in store, so get ready. You have seen nothing yet!

Meta introduces NFTs to Facebook

Right-click saving NFTs has never been easier than now. Meta has just announced that you can now post your NFTs on both Instagram and Facebook. So if you've been dying to show off your digital wealth to your friends and followers on both platforms, you can now do so with ease.

That's right, now you can share your NFTs with all your friends and followers on the two biggest social media platforms in the world. And if that's not enough, you can also add custom animations to your NFT posts, making them even more eye-catching and unique.

Of course, this is all just a way for Meta to cash in on the growing popularity of NFTs. But hey, if you're going to sell your soul to the devil, you might as well do it in style, right?

Of course, you'll need to have a wallet that is compatible with Meta in order to do this. So if you're using Rainbow, MetaMask, Trust Wallet, Coinbase Wallet or Dapper Wallet, you're in luck. Just connect your wallet and start posting away.

“As we continue rolling out digital collectibles on Facebook and Instagram, we’ve started giving people the ability to post digital collectibles that they own across both Facebook and Instagram. This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both,” Meta said in a blog post.

The post goes on to say that the company is also working on custom animations for NFT posts and digital collectible collections. So if you're looking to really make your NFTs stand out from the crowd, this might be a feature you want to keep an eye out for.

Earlier in the year, Zuckerberg had mentioned that Meta will work on displaying NFTs through Instagram Stories and make them Spark AR compatible, too. So, regarding creating augmented reality experiences, it looks like Meta is trying to work on that too.

It's still early days for NFTs, but it's clear that Meta is betting big on the future of digital collectibles. And to me, it's not hard to see why.

Iran passes a bill authorizing the use of cryptocurrency for imports

Our of necessity comes innovation, in the case of Iran, the need to skirt around U.S. sanctions has led the country to turn to cryptocurrency, making it one of the few nations to do so.

Iran has recently passed a bill that will allow the country to import goods using cryptocurrency. The Central Bank of Iran has also given its consent to the imports being processed in cryptocurrencies. This move will no doubt come as a relief to those who have been hit hard by the sanctions, as they can now use cryptocurrencies to import goods and services. Even cars can be imported using crypto, so there's no need to worry about dollars or euros anymore.

The use of cryptocurrency for imports is a controversial move that is sure to generate a lot of debate. Iran is clearly trying to circumvent the US sanctions and evade trade embargoes. Whether or not this will be successful remains to be seen.

Iran is no stranger to sanctions and is currently the most sanctioned country in the world. However, the US and its allies have ramped up sanctions against Russia following its invasion of Ukraine, which has pushed Iran out of the top spot.

Of course, it remains to be seen how well this new system will work in practice, but it's definitely a step in the right direction for Iran. Who knows, maybe other countries will follow suit and we'll see a world where trade is conducted primarily using cryptocurrencies. Wouldn't that be something?

Arbitrum network to get major upgrade on August 31

Arbitrum, the Ethereum scaling network that utilizes Optimistic Rollup technology, is set for a major upgrade on August 31. According to Offchain Labs’ GitHub account, Nitro will represent a “fully integrated, complete layer 2 optimistic rollup system”.

This upgrade comes as a response to the increasing demand for Arbitrum’s services. The Arbitrum network has seen a surge in use in recent months, with more and more transactions being bundled off-chain from Ethereum smart contracts and decentralized applications.

Nitro will build on Arbitrum One with newly improved fraud proofs, along with updated sequencers, token bridges and calldata compression mechanisms. This upgrade will allow Arbitrum to process more transactions per second, while also reducing the fees associated with using the network.

Back in July, Arbitrum hit pause on its NFT-powered incentives campaign due to high fees and constipation of the network. The task for the first week of the campaign was simply to bridge assets over to Arbitrum from a select number of crypto bridges. Effectively, high demand for free NFTs tipped the network over and forced Arbitrum to abandon the airdrop until such time as the network could handle the load.

With Nitro, Offchain Labs is looking to address these issues and provide more robust scaling. We wish them luck, and until then we’ll just have to keep our fingers crossed that the mainnet doesn’t choke on itself again.