Mark Zuckerberg, the CEO of Meta, said today that the company is adding NFT support to Instagram around the world. The expansion comes after the NFT test launch of the social network in May. Soon, Instagram users and businesses in over 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas will be able to trade NFTs. Before the expansion, only a small number of American creators had access to the help.
The company also said today that Coinbase Wallet and Dapper Wallet are now accepted as third-party wallets. Instagram is also adding Flow to the blockchains it already works with.
Instagram’s NFT feature lets users link a digital wallet, send out NFTs, and automatically identify both the person who made the NFT and the person who got it. You can post NFTs in your main Instagram Feed, Instagram Stories, and Instagram Direct. The digital collectible will have a shimmering effect and may show public information, like a description of the NFT, after it has been posted.
To upload a digital collectable, you must link your digital wallet to Instagram. As of today, Instagram can connect to third-party wallets like Rainbow, MetaMask, Trust Wallet, and Coinbase Wallet. Dapper Wallet will be supported soon. Ethereum, Polygon, and Flow are all blockchains that can be used. The social network Instagram says that there are no costs involved with uploading or sharing digital collectibles.
Zuckerberg said earlier this year that Meta would make augmented reality NFTs or 3D NFTs that can be added to Instagram Stories using Spark AR, the company’s software AR platform. Today, the company announced that digital collectibles can now be shown and shared as augmented reality stickers on Instagram Stories.
Meta says that the expansion is part of its efforts to promote access to web3 technology through NFTs and to help artists who want to sell their work and build communities for their fans and collectors.
During its first NFT test launch in May, the company said “We understand that blockchain technology and NFTs raise important questions on sustainability. Meta will help reduce the emissions impact that might be associated with the display of digital collectibles on Instagram by purchasing renewable energy.”
A few weeks ago, Meta began testing NFTs with a few Facebook publishers. The Instagram rollout is the next step. At the time, the company said that users would not be able to turn digital collectable posts into ads for the time being.
This year, Twitter added NFT profile images for its paid users. The NFT feature on Instagram has now grown. Susan Wojcicki, the CEO of YouTube, said that the site might use web3 technologies like NFTs to help YouTube creators make money. Digital giants like Instagram and Twitter aren’t the only ones who want to use NFTs. Also, Reddit just made a new NFT-based avatar marketplace where people can buy blockchain-based profile pictures for a set price.