Instagram will begin testing digital collectibles in showcasing NFTs this week with select US creators.
Starting this week, as announced by Meta Newsroom and the head of Instagram, Adam Mosseri, creators can now test the waters in earning income through NFTs on Instagram. Fans can also soon support their favorite creators by purchasing their very own work as NFTs, whether it be in the form of art, image, video, music, or even trading card. CEO Mark Zuckerberg has also expressed his sentiment on bringing NFTs into Instagram and the future of it in a talk with Tom Bilyeu.
The new NFT integration in Instagram will have features such as connecting a digital wallet that houses one’s NFTs to share on Instagram. Sharing NFTs will also be on public display and visible on the creator’s profile. The creator and collector can also be automatically tagged and attributed to the digital post. What’s nice to know about Instagram integrating NFTs on their platform, is that as of the moment, Meta has stated there will be no fees associated with posting or sharing an NFT on Instagram.
Currently, the blockchains that will be supported on Instagram’s NFT feature will be Ethereum and Polygon, with Flow and Solana coming soon. As well, current third-party crypto wallets that are supported are Rainbow, Trust Wallet, and the ever-so-popular Metamask. With Coinbase, Dapper, and Phantom coming soon.
Meta has stated that its early efforts in introducing NFTs into its platform are in support of underrepresented groups to have access to emerging digital assets. As they aim to improve accessibility, lower barriers to entry, and help make the NFT space more inclusive to all communities.
What do you think of Instagram bringing NFTs into its platform and what it holds for Web 3.0? Let us know your thoughts and opinions down in the comment section!
