Monday, January 24

Facebook launches into the cryptocurrency advertising business

Facebook, today called Meta, is keen to capture the buoyant advertising business around the industry and has announced an expansion of its ad and advertising policy about cryptocurrencies. Undoubtedly, the new stance of the social media giant is also related to the progress made with its Diem cryptocurrency and its Novi wallet, launched in the United States and Guatemala last October. In line with this, it should be remembered that David Marcus, head of Facebook’s cryptocurrency project from the beginning, leaves the company at the end of the year.

Facebook and cryptocurrency advertising

Meta attributes the flexibility of its policy to the maturity of the crypto industry and to an increasingly clear regulation on digital assets. Section 10 of the Meta Advertising Policy stated that advertisements on spot trading, margins and cryptocurrency futures were not allowed. The section prohibited the offering of DeFi products, such as crypto-asset loans or staking services. Now, these types of ads can be seen in all the products of the group, such as Facebook or Instagram.

Facebook turns to Ethereum, Paxos and Coinbase to launch its digital wallet

Meta reports that the change will help entrepreneurs and small businesses to increase their audience. Over the years, the cryptocurrency landscape has matured and stabilized, says Meta. It also ensures that it has experienced an increase in government regulation, helping to establish clearer responsibilities and expectations for the industry.

Facebook is called Meta and aspires to be the owner of the world through the metaverse

$ 28,276 million in advertising revenue

Meta says its new cryptocurrency ad and advertising policy will help entrepreneurs and small companies grow their audience and reach more customers around the world, but it is clear that Meta will also benefit from a growing industry.

The business of the social media giant is advertising. Facebook’s multi-million dollar revenue each year comes from selling our social media attention to advertisers. The company collects our data and activity, which it then sells to advertisers so that they can send us personalized advertising, based on our interests or needs.

Facebook signals the metaverse as the next big global business

In his presentation of third quarter results As of 2021, Meta showed advertising revenue of $ 28,276 million. On the other hand, global search interest in cryptocurrencies grew by 420% in the last year. Google Trends also indicates that searches for the terms Metaverse and NFT grew by an average of 15% in the last month.

3 billion people worldwide

Without a doubt, it is this growing interest that the company wants to capitalize on, making its advertising policy more flexible and allowing interested parties to promote its cryptocurrency products and services on their platforms. Do not forget that Meta products and services are used by more than 3 billion people around the world.

Blockchain Observatory signs the «Verses» Declaration, contrary to Facebook’s metaverse

Currently, the market capitalization of cryptocurrencies exceeds $ 2.61 trillion. While in decentralized finance, the liquidity deposited reaches the 277 billion. On the other hand, although the Metaverse is a more modest market, the great interest that currently exists led Grayscale to say that it could reach a market value of 1 trillion dollars in the next years.

Blockchain, NFT and more

Meta will continue to authorize all those announcements focused on blockchain technology and NFTs; as well as those that offer tax services for cryptocurrency companies or on news portals and training in crypto assets.

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