As the introduction of Reels increases engagement across Meta’s various platforms, Meta’s Global Business Group VP Nicola Mendelsohn emphasized Meta’s goal of using metaverse technologies to create monetization opportunities for creators. Meta claims that since the introduction of Reels on Instagram in 2020, the company has been able to build a massive community of creators, which has also driven engagement on the platform.

Consequently, Mendelsohn notes that creators can use the Meta shift to Web 3.0 to truly drive greater engagement: from creating digital collectibles, 3D avatars, and NFTs, to utilizing virtual and augmented reality for monetization purposes. .

Monetization opportunities

Meta’s emphasis on using Web 3.0 for monetization purposes is novel,…