Meta’s Metaverse Surges with Crypto Ads on Facebook and Instagram

Feb. 3, 2024
Meta’s Metaverse Surges with Crypto Ads on Facebook and Instagram

Meta is actively exploring options for advertising in the cryptocurrency space, capitalizing on the current regulatory clarity within the crypto industry. Bitcoin ETFs are among the majority of funds that have seen significant inflows in the past 20 days, with the trend catching the eyes of giant players within the tech industry.

The latest move in this changing landscape has seen Google Search and YouTube embrace Bitcoin ETF ads earlier this week, a revolutionary occurrence in mainstream acceptance. Now, insiders speculate that Meta, the parent company of Facebook and Instagram, could soon jump on the crypto bandwagon.

Bitcoin ETF Ads on Facebook & Instagram?

Nate Geraci, President of ETF Store, made a significant insight. In a recent X post, he notified that Facebook and Instagram could soon allow the showing of ads for spot Bitcoin Exchange-Traded Funds (ETFs), indicating a possible modification in advertising policy on these prominent social media platforms.

Referring to Facebook as a possible “boomer honeypot,” Geraci insinuates the social media giant’s wide majority of users, including a large segment of older people, might be key to promoting greater saturation for Bitcoin ETF ads.

The development of a major social media platform now enables the promotion of Bitcoin ETF advertisements. This convergence highlights the increasing intersection between cryptocurrency and ETF spaces.

Placing ads for Bitcoin ETF on FB or Instagram can be thrilling. These platforms have a huge user base of millennials and GenZs, and social media of this kind may often know more about the crypto space than others. However, only some of these are keen to provide crypto ads. E.g.

META Stock Jumps 20% Amid AI Competition Rise

Meanwhile, Meta is on the path to a remarkable turnaround. On February 2, Meta (NASDAQ: META) witnessed a notable 20% surge in stock value following its first-ever dividend distribution announcement. The company has authorized $50 billion in buybacks and announced a quarterly dividend of 50 cents per share.

This comes on the backdrop of robust results as well as strong returns from its investments in emerging technologies like “metaverse.” This fillip will undoubtedly lift the investor sentiment on Meta, which has been struggling for quite some time now. However, restructuring plans have paid off well for the company.

Over the past year, Meta has cut costs, causing detrimental losses to thousands of employees. More than 21 employees have left since late 2022. Company chief Mark Zuckerberg has called 2023 the “Year of Efficiency.”

Microsoft and Alphabet are developing their AI, while Meta showcases progress with the Llama 2 model. The company has also hinted at innovation in AI with its upcoming Llama 3 model.

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Rida Fatima

News writer
An ardent wordsmith with a rich five-year background in delving into the realms of finance and cryptocurrencies. Alongside curating captivating blogs, Unique's talents extend to crafting imaginative and engaging content.