Meta Now Lets Users Link 🔗 Instagram NFT Posts to Facebook
Scott D. Clary | Daily Business, Tech & Finance Newsletter
Scott D. Clary
August 31, 2022
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Here’s whats happening:
- Meta now lets users link Instagram NFT posts to Facebook
- FTC sues data broker Kochava
- Argentina’s Mendoza province to accept crypto for tax payments
- Recruitment startup Glints secures $50M in funding
- Arbitrum to get upgraded
Meta Now Lets Users Link 🔗 Instagram NFT Posts to Facebook
Meta will now allow users to post their NFTs across both Instagram and Facebook.
Users can connect their wallets like MetaMask, Coinbase Wallet, Rainbow, Trust Wallet, and Dapper Wallet to post digital collectibles minted on Ethereum, Polygon, and Flow.
The Timeline:
- March 2022: Meta said NFTs would be included on Instagram soon.
- May 2022: Instagram first started testing NFTs with select creators.
- June 2022: Meta included more users in that test and said NFTs are coming to Facebook soon.
- June 2022: Facebook began showcasing digital collectibles with limited U.S-based creators.
- July 2022: Meta launched NFT support on Instagram in 100 countries.
- August 2022: Meta allows users to link non-fungible tokens (NFTs) posts on Instagram to Facebook.
Why does this matter?
With this move, Meta is trying to reach a wider audience by rolling out features that will allow people to show their digital collectibles through posts.
Meta’s larger plan is to support all major blockchains and wallets so more crypto-enthusiasts can display digital art on a mainstream platform.
FTC Sues Data Broker Kochava 🚨
The US Federal Trade Commission (FTC) has filed a lawsuit against data broker Kochava for selling geolocation data from hundreds of millions of mobile devices that could be used to track consumers.
Key Highlights:
- Kochava sold information that can be used to trace the movements of individuals to and from sensitive locations, says the agency.
- The FTC claimed that it was possible to use the information to trace consumers to reproductive health clinics, domestic violence shelters, and places of worship.
- The agency alleged that by selling such sensitive, Kochava is enabling others to identify individuals and exposing them to threats of stigma, loss, stalking, discrimination, job, and even physical violence.
In a statement, Samuel Levine, Director of the FTC’s Bureau of Consumer Protection, said, “Where consumers seek out health care, receive counseling, or celebrate their faith is private information that shouldn’t be sold to the highest bidder.”
What next? 🤔
The lawsuit seeks to halt Kochava’s sale of sensitive geolocation data and requires the company to delete the sensitive geolocation information it has collected.
Argentina’s Mendoza Province 🇦🇷 to Accept Crypto For Tax Payments 💰
The Argentine province of Mendoza has enabled the payment of taxes with cryptocurrencies, its tax authority said in an announcement.
What should you know?
- With a population of more than 2 million, Mendoza is the fifth-largest territory in the country.
- The move will allow users to pay taxes with any crypto wallet, including Binance, Bitso, Buenbit, Bybit, Ripio, and Lemon.
- Mendoza will only accept stablecoins for tax payments, such as the DAI, USDT, etc.
- A third-party firm will receive crypto payments, process them & convert them into Argentinian pesos and send the funds to the province’s tax administration.
Why is this move important?
The move is part of a strategic move by the tax authorities of the province to modernize the payment of tax and state tributes, tariffs, and trade, thus providing residents with several options to fulfill their tax obligations.
Recruitment Startup Glints Secures $50M in Funding 💸
Glints, a talent recruitment startup, has raised $50 million in its Series D funding round.
Know the investors:
The funding was co-led by DCM Ventures and Lavender Hill Capital. Existing investors Persol Holdings, Monk’s Hill Ventures, Fresco Capital, and Binny Bansal (co-founder of Flipkart) also participated in the round.
As part of the investment, DCM Ventures’ general partner Ramon Zeng and Lavender Hill Capital’s founding partner Xiaoyin Zhang will join Glints’ board.
What will Glints do with the capital?
Glints will use the fresh funds to expand its talent supply base in the Philippines & employer demand globally and hire for its product & tech teams.
About Glints:
Founded in 2013, Glints is an online job recruitment platform headquartered in Singapore. The company helps bridge the gap between education and employment by providing a professional platform for young people focused on career discovery and development.
Through the company’s platform, users can apply for internships, full-time, part-time, or project-based positions with partnered companies.
Arbitrum to get upgraded 🎊🎉
Ethereum layer-2 scaling solution Arbitrum is set to undergo one of its most significant upgrades on August 31.
This upgrade, which is referred to as the “Nitro” upgrade, is set to increase transaction throughput, slash transaction fees, and simplify cross-chain communication between Arbitrum and Ethereum.
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