Snap is set to experiment with NFTs as augmented reality filters on Snapchat.

As Snap advances its exploration of augmented reality for Snapchat, the integration of NFTs will allow creators to present their digital collectibles as AR filters. This new feature is expected to roll out by the end of August, according to the Financial Times. reported .

Currently, Snapchat already has numerous AR filters that enhance real-life photos, adding digital elements to either the background or foreground.

To utilize the NFT functionality on the platform, creators are required to mint their NFTs using a dedicated NFT platform, which can then be transferred to Snapchat as Lenses. The blockchain will ensure that the ownership of each NFT filter is certified back to its creator. As the Financial Times noted, featuring NFTs on Snapchat will come at no cost, with the platform looking for ways to help creators monetize their creations.

In a blog  post Snap mentioned that AR technology is becoming an essential marketing tool, significantly improving the overall user experience.

CEO Evan Spiegel of Snap articulated that 'Augmented reality plays a vital role in the expansion of our business.' told  CNBC. 

Fashion brands, such as  Burberry Users can take advantage of Snap's AR fashion try-on features and additional tools that provide an opportunity to visualize wearables in their own home environment while exploring them in depth.

Recently, Snap's rival, Meta, has started to test its own AR functionalities using SparkAR, their augmented reality platform. Social media networks appear to be increasingly embracing cutting-edge technology. Last week, it was reported that Meta will launch an NFT marketplace, enabling users to buy avatars to use as profile images. NFTs on Instagram stories Burberry leverages an augmented reality feature to promote sales of its iconic Lola bag. Reddit Jadu has successfully gathered $36 million to create a Web3 augmented reality gaming platform.

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