Sunday, March 3, 2024

Instagram expands NFT features in 100 countries

After testing NFTs with selected creators, Instagram has announced that it is expanding this feature in 100 countries.

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In May 2022, Instagram started testing a functionality where users and businesses can share NFTs on their profiles with selected creators and collectors on the platform. At that time, the company said, “By building support for NFTs, we aim to improve accessibility, lower barriers to entry, and help make the NFT space more inclusive to all communities.”

Recently, its parent company Meta has announced in an update that it is expanding this feature to 100 countries in the Asia-Pacific, Africa, the Middle East, and the Americas.

The company has also added third-party wallet compatibility with Coinbase wallet, Rainbow wallet, Dapper wallet, MetaMask wallet, and more. The company also mentioned that the supported blockchains include Ethereum, Polygon, and Flow. With this, users and businesses do not have to pay anything to post or share their digital collectibles on the platform.

It is extremely simple to share the non-fungible tokens that you buy on your Instagram handle. The company also has the ability to automatically tag the creator and collector. You can share your NFTs on Instagram by connecting your digital wallet. It can be shared as posts, stories, or also sent as a message, and you can also display public information, like adding a description with your NFT.

This reflects the efforts the company is taking to be in sync with the digital transformation. The company also wants to encourage and uplift creators and enable them to monetize their work. Mark Zuckerberg, the CEO of Meta, also shared an image on Instagram that he will be converting into an NFT to announce the recent development.

Instagram is not the only digital giant that wants to integrate NFTs on its platform. Previously, Twitter also introduced NFT profile pictures for its premium users and many more platforms are making similar efforts to embrace the technology.

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