Mark Zuckerberg's Meta Introduces Instagram NFT Feature

Mark Zuckerberg's Meta Introduces Instagram NFT Feature

Instagram is now NFT-friendly in 100 countries around the globe. 

Meta, a California-based multinational technology company, previously known as Facebook, had announced the expansion of its non-fungible token (NFT) Instagram feature

According to the announcement shared on August 4th, the company is looking to expand the support of the NFT feature internationally. In their blog post, the company noted that the function of sharing NFTs will be available in 100 countries around Africa, Asia-Pacific, the Middle East, and the Americas

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Back in May, Meta announced that they are starting to test the integration of digital collectibles with a handful of U.S. creators and collectors

The new feature allows users to connect their digital wallets to Instagram and share their NFTs on Instagram Feeds, Stories, or messages

Moreover, previously Zuckerberg announced that Meta is planning to create 3D NFTs, which can be displayed on Instagram stories using the company's AR platform. It seems that Meta has reached their goal. The new Instagram feature allows users to display their NFTs as AR stickers in their Instagram Stories

After the user posts their non-fungible token, Instagram will automatically tag the creator and collector while also displaying public information about the NFT. According to the Meta, there are no additional fees when uploading your digital collectibles to Instagram.

With the expansion of this feature, Meta also added Coinbase Wallet and Dapper Wallet to the list of compatible third-party wallets. This list also includes Rainbow, MetaMask, and Trust Wallet. The feature supports Ethereum, Polygon, and Flow blockchains.

Meta’s Instagram is not the only social media platform employing NFTs in its functionality. Earlier this year, Twitter allowed premium users to change their profile pictures to NFTs. Reddit has also joined the group and rolled out an NFT-based marketplace where users can buy blockchain-based profile pictures for a fixed price. 

Lastly, Youtube CEO Susan Wojcicki has noted that the platform will be searching for ways to employ Web3 technology to help YouTubers make money

Aaron S. - Expert Reviewer

by Aaron S. - Expert Reviewer, BitDegree


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