The company’s founder and CEO, Mark Zuckerberg, announced today that the firm will begin its international expansion of NFT support on Instagram. They have plans on expanding their NFT features to the Middle East, Africa, Asia-Pacific, and the Americas.
The company also announced that Coinbase Wallet and Dapper Wallet are now approved as a third-party wallet for use. Instagram is adding Flow to the list of blockchains it supports. This is really exciting.
The service was previously only accessible to a select number of creators in the United States.
NFT’s on Instagram
Meanwhile, Meta announced the integration of Instagram NFT with Coinbase, MetaMask, Trust Wallet, and Rainbow.
Users can connect a digital wallet to their Instagram account, create and share NFTs, and automatically tag both a creator and collector for attribution with the addition of Instagram’s NFT functionality.
NFTs can be shared in your main Instagram Feed, Stories, or through text messages. When you share a digital collectible, it will have a glittering effect and may show public information such as the NFT’s description.
To post a digital collectible on Instagram, you must link your digital wallet to the social network.
Integration and Future Plans
Instagram now supports third-party wallets such as Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet. Ethereum, Polygon, and Flow are the supported blockchains. Instagram states that there are no costs associated with uploading or reblogging a digital collectible on the social networking platform.
Meta revealed in its most recent development that the firm is aiming to expand users’ access to Web3 technology via NFT. Meta also wants creators to profit more from their creativity through revenue generation, according to the statement.
Earlier this year, Mark Zuckerberg explained that Meta is working on augmented reality NFTs (3D NFTs) that you may utilize with Spark AR, the company’s AR software platform.
They also announced that they will allow people to showcase and share their digital collectibles via Instagram Stories.
The Instagram expansion comes after Meta began beta testing NFTs with select Facebook creators a few weeks ago.
Moving Forward with NFT’s
Facebook, as well as its creator, Mark Zuckerberg, has been quite enthusiastic about the cryptocurrency and NFT sector. The name change from Facebook to Meta has stood out because they wish to expand their metaverse operations into a major player in the industry.
Not only do Instagram and Twitter desire to embrace NFTs, but so does YouTube CEO Susan Wojcicki, who stated that the platform may use web3 technologies like NFTs to assist YouTubers generate money.
In addition, Reddit just introduced a new NFT-based avatar marketplace that allows users to purchase blockchain-based profile images for a pre-determined price.
