Even though the cryptocurrency market is at its lowest point in the middle of winter, major tech companies are still considering investing in the space if conditions improve. Snap is currently investigating how artists can view their digital collections as AR filters on Snapchat.

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Snap, the parent company of the social media network Snapchat, is said to be considering incorporating non-fungible tokens (NFTs) into its platform. According to the Financial Times, Snapchat will allow developers to use NFTs as augmented reality lenses.

According to the same report, the company intends to launch this experiment in August with a select group of creators. Artists will be able to create and print NFTs on a different platform, then export them to Snapchat as Lenses in this test. According to the Financial Times, Snap does not intend to charge artists to display their digital collections, as Twitter, Instagram, and Facebook do. Instead, they are considering how artists can monetize their work.

Social media platforms have used a variety of strategies for NFTs, taking advantage of the unique features of each platform. Twitter was one of the first companies to embrace the NFT trend, allowing its paying users to use digital items as avatars.

Instagram announced in May that it will allow a limited number of creators to include NFTs in their posts, stories, and messages. Facebook first tested a similar set of capabilities for a small group of American users last month. Last week, Reddit's own NFT marketplace launched, where you can buy digital avatars for a set price using fiat cash.

Snap appears to have leaked the NFT test as a result of a quick product sprint: It comes just days after the launch of Snapchat Plus, a premium membership service. Any additional information on any of these fronts should be kept an eye out for when the company releases its most recent quarterly financial results on July 21.

This will assist Snap in reinforcing its message to investors that it is working on additional revenue-generating ideas to supplement or offset any ups and downs in the ad market.