Mark Zuckerberg and Adam Mosseri spoke on Monday to announce the arrival of NFTs on Instagram. One more step in Web3 for Meta!
NFTs are coming to Instagram
Display your collection of NFTs
Instagram boss Adam Mosseri said content creators can now share their digital artwork on the social network. Indeed, Instagram will integrate a new category of publication, with a dedicated tab, represented by an icon in the shape of a hexagon and a check mark in its center.
Users can share their NFTs in the main Instagram feed, but also in Story or by message. These publications will be accompanied by a “glossy” effect, which will make them stand out in the feed.
Currently, the supported platforms are Ethereum and Polygon, with Flow and Solana expected to arrive soon. Regarding compatible third-party wallets, we find Rainbow, MetaMask, Trust Wallet, and Coinbase. Dapper and Phantom should also be available soon.
Instagram wants to support content creators
“The creator economy is important to Instagram,” said Adam Mosseri. With the integration of NFTs on Instagram, the objective is therefore to offer content creators a new, safer way to monetize their audience.
Right now, creators have a number of ways to make money, but many of them are unpredictable and change quickly, the Instagram boss explained.
It also specifies that publishing or sharing a digital collectible will not incur any additional costs.
NFT on Instagram 🎉
This week, we’re starting to test digital collectibles with a handful of American creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.
See you next week! ✌🏼 pic.twitter.com/VuJbMVSBDr
— Adam Mosseri (@mosseri) May 9, 2022
A limited test phase
For now, this new feature is available in the United States only, and for a limited number of creators. The social network explains that it wishes “start small, and learn from the community”, before pursuing the option more massively.
“We believe one of the unique opportunities we have is to make Web3 technologies available to a much wider range of people,” said Adam Mosseri.
NFTs, soon available on other Meta applications?
Mark Zuckerberg also spoke on the subject, indicating that NFTs will also be available on Facebook soon. The founder of Meta also hinted that this function could extend to all applications of the group.
In addition, new types of NFT seem to be in the development phase: “We’re also going to be working on augmented reality NFT, basically 3D NFT, which you can integrate with Instagram Stories using Spark AR.” A new technology that makes it possible to place the digital work of art in 3D spaces, or to project it in physical spaces.