Meta rolls out NFT support on Instagram to 100 countries
Meta rolls out NFT support on Instagram to 100 countries
New update from Meta will allow users to post NFTs on Instagram stories, feed and more
By Shashank Bhardwaj
Image: Shutterstock
Social media giant Meta has taken another step into the creation of a Metaverse by announcing that they are rolling out NFT support for Instagram in other countries as well.
This news has come to light recently after the company began its test launch in May by rolling out beta support for NFT. Meta is inclined to check if the users were interested in posting their digital art collection and non-fungible tokens on their social media platform.
The test launch was not limited to just the Instagram platform as the company plans to introduce it over Facebook.
For the test launch, NFT support was enabled only for US users by connecting their digital wallets to Instagram. NFT support on Instagram highlights the news as it turns out to be a big step towards creating a Metaverse. The company is launching support for users in 100 countries in the US, Asia-Pacific, Africa and the Middle East. Users of these countries can use NFTs as stickers on their stories from August 4. Users must now link their digital wallets to Instagram to post their NFT collection and digital art. Coinbase and Dapper are the two supported third-party digital wallets as of now. Meta has made clear its plans to expand blockchain support. Instagram now also supports the blockchain network on Flow, which is an expansion step.
With this new update, Instagram users can post their NFTs on their Instagram feed and share them with others. Furthermore, users can automatically tag the creator and collector of NFT for proper attribution. Posting your NFT collection on Instagram will make the digital art shine and display information about the NFT, such as the creator, owner, value, etc.
Aside from just Coinbase and dapper, Instagram also plans to partner with third-party digital wallets such as MetaMask, Trust wallet and more. Currently, users are not charged any fees associated with posting their collection.
Moving forward with the expansion, Meta also plans to introduce AR NFTs and virtual reality on Instagram using SparkAR, their AR platform. “Meta understands that blockchain technology and NFTs raise important questions about sustainability,” the company’s spokesperson said. The company also mentioned its plans to purchase renewable energy to reduce the impact of displaying NFTs on Instagram. Navdeep Singh, the company’s head of testing, stated that testing is currently underway with the aim of enabling cross-posting via NFTs.
Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist.
