Instagram has jumped onto the trending NFT bandwagon and has announced that it is testing digital collectibles for content creators to showcase their non-fungible tokens (aka NFTs) on the platform as another way of “prioritizing” creators. Here are the details you should know.
Instagram Gets NFT Support for Creators
As per Instagram CEO Adam Mosseri’s recent tweet, Instagram will now let a small subset of creators in the US share NFTs they have bought or made as posts, Stories, or in DM (direct message). This is a way for content creators to earn money on the Meta-owned social media platform and comes in addition to the subscription plan that it recently began testing.
Mosseri suggests that the aim to introduce the ability to share NFTs as a test is for them to better understand the NFT community and eventually add more from the learnings.
NFTs on Instagram will come with a “digital collectibles” tag and users can get information on the tag’s creator and NFT owners by tapping on it. It is said that it will initially support Ethereum and Polygon cryptocurrencies and the wallet support will include Rainbow, MetaMask, and Trust.
For those who aren’t acquainted with the term, NFTs are the non-fungible tokens that hold an owner’s unique and authentic information backed by blockchain technology. If you intend to get in-depth details on the concept, we have an explainer article for you.
Meta has also revealed that NFTs will soon reach Facebook and more of its apps. People, in the coming future, will also be able to share the digital collectibles as AR stickers on Instagram Stories too. The company believes that the concept, which is safely a part of Web3, has the “potential to empower creators around the world.“
To recall, Twitter is another social media platform that introduced support for the display of NFTs as the profile picture. So, what are your thoughts on this? Let us know in the comments below.