Instagram’s New NFT Feature for Select Creators is Live
The new Instagram functionality that enables a select group of producers and collectors to post non-fungible tokens (NFTs) is now Live. The new feature is now available in 100 countries throughout Asia, Africa, the Americas, and the Middle East.
Select users may now link a digital wallet and select the NFT they want to share. When an NFT is posted, it will have a shimmer effect and information about it, including the NFT’s creator, and the collection’s total token supply. Every post will be visible on the user's profile, and if they choose to, the creator and collector can both be automatically tagged in the Instagram post.
The new Instagram feature now supports a number of third-party digital wallets, with Dapper, Coinbase, and Phantom on the way. These wallets include Metamask, Trust Wallet, and Rainbow. Ethereum and Polygon are the supported blockchains, and Flow and Solana are on the horizon. There is no fee associated with this service.
You may currently follow some of these accounts to see some of the NFTs that are presented on the platform: @adambombsquad, @bluethegreat, @garyvee, @jenstark, @maliha z art, @misshattan, @nopattern, @oseanworld, @paigebueckers, @phiawilson, and @yungjake.
The parent company of Instagram, Meta, says it is committed to assisting artists and creators to find new monetization opportunities and delivering NFTs to a larger audience as it continues to open up access to digital collectibles on its platforms. Additionally, Meta stated that it is critical for them to promote various voices from underrepresented groups.
Finally, Meta said that it wouldn't take long for NFTs to launch on Facebook and for users to be able to utilize AR stickers in Instagram stories to display their digital collectibles.
Despite being negatively impacted by the market downturn, Meta is still investing a huge amount of money in Web3 technologies including the metaverse, NFTs, and blockchain. The NFT sharing function on Instagram has yet to gain any traction. However, there is one thing for sure: Meta and Mark Zuckerberg are totally committed to Web3. We will keep an eye, here at NFT Drops Calendar, if there is any development in the story.