Instagram Expands NFT Feature to Creators Worldwide

The social network will also integrate with Coinbase Wallet and Dapper Wallet

article-image

Mark Zuckerberg | Source: Shutterstock

share

key takeaways

  • Select creators only need to connect a digital wallet to Instagram in order to post an NFT
  • There are no fees associated with posting or sharing a digital collectible on Instagram

Meta is introducing NFTs to a fresh cohort of Instagram users worldwide. 

The tech giant and Instagram parent company said Thursday its digital collectibles push — rolled out to US users in May — is going global.

Creators and businesses in some 100 countries across Africa, the Asia-Pacific region, the Middle East, and the Americas will now be able to share their NFTs (non-fungible tokens) on Instagram. A spokesperson declined to comment on whether Europe is included. 

This feature allows users to connect a digital wallet, share NFTs and automatically tag both a creator and collector for attribution. 

Zuckerberg posted a “soon-to-be NFT” of his Little League baseball card to Instagram “in honor” of the expansion.

Instagram is also set to support Coinbase Wallet and Dapper Wallet connections in addition to the standing integrations of Rainbow, MetaMask and Trust Wallet. Creators may also post digital collectibles minted on the Flow blockchain, as well as Ethereum and Polygon.

“This milestone reflects Meta’s continued work to expand access to web3 technology through NFTs, and support creators who want to monetize their work and build community with their fans and collectors,” the company said in a statement. 

Meta recently outlined how the company is focusing on “rolling out more ways for creators to make money on Facebook and Instagram,” Zuckerberg wrote in a June Facebook post.

On Instagram, the aim is to facilitate branded content partnerships between creators and brands, according to the company. The platform plans to begin testing in-app payments, so brands could pay creators for branded content via the social media platform.

Users can also display and share digital collectibles as augmented reality stickers in Instagram stories. Snapchat has let its users create and share similar in-app effects for a couple of years. 

On Facebook, creators can give paying subscribers on other platforms access to subscriber-only Facebook groups. And those fans can show love to their favorite creators by sending stars — a digital good fans can buy.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

HYATT REGENCY SALT LAKE CITY

TUES, OCT. 8, 2024

Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

hivemapper.jpeg

Research

We believe crypto market participants overlook Hivemapper’s fundamental potential due to a poor understanding of both the niche map data market and Hivemapper’s positioning relative to incumbents. Hivemapper’s token model catalyzes both a cost and product advantage via unmatched map freshness and near real-time accuracy, which is its wedge into a market characterized by stale data and high data collection costs. Its current and potential future product suite may represent one of the strongest possibilities for PMF in crypto today.

article-image

The Department of Justice and Commodity Futures Trading Commission announced back-to-back lawsuits against KuCoin Tuesday

article-image

Judge Failla found that Coinbase didn’t operate as an unregistered broker in offering its wallet service

article-image

A fund by Laser Digital offers investors exposure to the Polygon network, while a new 21Shares ETP focuses on staking rewards from Toncoin

article-image

Sponsored

The TRON network’s integration into Dune brings a wealth of data and insights to the fingertips of users

article-image

A BTC futures fund offered by Hashdex and Tidal Investments has gotten regulatory clearance to hold bitcoin directly

article-image

At launch, Chain Signatures will be compatible with Bitcoin, Ethereum and Cosmos network chains, as well as DogeCoin and XRP Ledger