- Snap Inc (NYSE:SNAP) is planning to allow users to showcase non-fungible tokens (NFTs) on its application, the Financial Times reported.
- The feature would allow NFT artists to present their designs on the social media platform as augmented reality filters.
- The beta test feature will be available to a selected creator from the end of August.
- Snap is also planning to charge creators for presenting NFTs in addition to exploring third-party partnerships to help creators in monetizing their NFT designs.
- The move comes in the wake of other companies, including Facebook and Instagram’s parent company, Meta platforms (NASDAQ:META), and Reddit’s plans to provide NFT access.
- Price Action: SNAP shares are trading higher by 0.43% at $14.10 in premarket on the last check Wednesday.
- Photo by Souvik Banerjee from Pixabay
US Stocks Edge Lower; Charles River Earnings Top Estimates
U.S. stocks were mostly lower this morning, with the Nasdaq Composite falling more than 50 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.03% to 35,303.64 while the NASDAQ fell 0.47% to 13,818.70. The S&P 500, also fell, dropping, 0.14% to 4,493.14.
