- Selected Instagram users and influencers in the US will test the NFT sharing feature
- Meta CEO Mark Zuckerberg first revealed at South by Southwest in March that the company was working on bringing NFTs to Instagram
A limited number of users in the US can now share digital collectibles and NFTs via Instagram, revealed Adam Mosseri, head of the social media platform, in a video posted to Twitter on Monday. Initially, only NFTs (non-fungible tokens) minted on the Ethereum and Polygon blockchains will be able to be shared on Instagram feeds, Stories and via direct messages.
Mosseri said that this new feature is an opportunity to “help creators make a living from what they love” while “bringing Web3 technologies to a much wider range of people”. He added that the company intends to learn from the community to “adopt these principles of distributed trust and distributed power” that are central to Web3.
He also clarified that there are no fees associated with posting or sharing an NFT, compared to Twitter which only allows Twitter Blue subscribers in the US, Australia, Canada and New Zealand to set their NFTs as their profile pictures (PFP). for a fee of $2.99 per month.
As seen in the video, NFTs displayed on Instagram contain a “Digital Collectible” tag that includes a description of the digital asset and details about the artist and owner.
Among the first NFT collections included in the study are those of Boss Beauties, actor Jayden Smith and VaynerX Chairman Gary Vaynerchuck. according to TechCrunch.
Similar features will soon be activated on Facebook and other meta-apps, CEO Mark Zuckerberg Approved in a Facebook post. Meta recently announced plans to charge 47.5% on every item sold in its new Meta Quest App Store and include NFTs as part of its Horizon Worlds virtual reality platform.
While Zuckerberg anticipated the news that Instagram would support NFTs “in the near future,” during a virtual appearance at the South by Southwest conference in Austin, Texas, in March, he hinted that users might soon be coining their own NFTs as well. But for now, NFT support on Instagram is limited to sharing.
The post “Meta Trials NFT Display Feature for Instagram Creators and Collectors” is not financial advice.
Source: Crypto News Austria