Instagram Expands the NFT Feature to All Creators Worldwide
by Coinbase Wallet and Dapper Wallet will also be integrated with the social network.
Meta is introducing NFTs to a new group of Instagram users worldwide.
The tech behemoth and Instagram parent company announced Thursday that its digital collectibles push, which began with US users in May, is expanding globally.
Creators and businesses in over 100 countries across Africa, Asia-Pacific, the Middle East, and the Americas can now share their NFTs (non-fungible tokens) on Instagram. A spokesperson would not comment on whether or not Europe is included.
Users can connect a digital wallet, share NFTs, and automatically tag both the creator and collector for attribution.
In “honor” of the expansion, Zuckerberg posted a “soon-to-be NFT” of his Little League baseball card to Instagram.
Instagram will also support Coinbase Wallet and Dapper Wallet connections, in addition to the existing Rainbow, MetaMask, and Trust Wallet integrations. Digital collectibles minted on the Flow blockchain, as well as Ethereum and Polygon, may also be posted by creators.
“This milestone reflects Meta’s ongoing efforts to broaden access to web3 technology via NFTs, as well as support creators who want to monetize their work and build community with their fans and collectors,” the company said in a statement.
In a June Facebook post, Zuckerberg stated that the company is focusing on “rolling out more ways for creators to make money on Facebook and Instagram.”
According to the company, the goal of Instagram is to facilitate branded content partnerships between creators and brands. The platform intends to begin testing in-app payments, allowing brands to pay creators for branded content through the social media platform.
Users can also use augmented reality stickers in Instagram stories to display and share digital collectibles. For several years, Snapchat users have been able to create and share similar in-app effects.
Creators on Facebook can grant access to subscriber-only Facebook groups to paying subscribers on other platforms. And those fans can express their gratitude to their favourite creators by sending stars — a digital good that fans can purchase.