Instagram will soon allow select creators to create and sell NFTs directly in its app • TechCrunch

Meta announced today that it is introducing a series of new creator updates across Instagram and Facebook. Most notably, the company revealed that creators on Instagram will soon be able to create their own NFTs and sell them directly to fans, both on and off Instagram. With this update, creators will gain access to a toolset that will help them create, showcase, and sell NFTs.

People on Instagram will be able to buy the NFTs directly in the app. Meta says the process will take place via traditional in-app purchases across iOS and Android. And for now, Instagram isn’t taking a cut of creators’ earnings. Meta is testing this new feature with a small group of creators in the US and plans to expand it to more countries in the future.

Instagram is also adding support for the Solana blockchain and Phantom wallet, joining the blockchains and wallets it already supports, including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, Dapper Wallet, Ethereum, Polygon and Flow. In addition, information for selected collections where the metadata has been enriched by OpenSea, such as collection names and descriptions, will now be available on Instagram.

In addition to the NFT updates, Instagram is also expanding access to subscriptions to all eligible creators in the US. The social network began testing subscriptions in January with a small group of creators. The feature allows creators to offer their followers paid access to exclusive Instagram Live videos and stories. Subscribers also receive a special badge that helps them stand out in the comments section and creators’ inboxes.

Meta also announced that Facebook is increasing access to Stars, which allows creators to monetize directly from followers on reels, live and video on demand. Facebook is also set to begin testing automatic onboarding for creators, meaning the ability to send stars will automatically appear on their content. Facebook also brings stars to non-video content, such as photos and text posts.

For creators who already use Stars, Facebook brings Stars Party to the wheels. A Stars Party is a Stars community challenge that ends in a celebration if the creator reaches the goal, says Meta.

The social network also gives creators on Facebook more tools to engage with people who send stars. For example, creators will be able to add a filter to the Comment Manager that shows all of a creator’s Stars comments in one place, giving creators the ability to respond to multiple comments at once.

Meta also announced that they are introducing giveaways on Instagram, starting with reels, to give creators a new way to monetize their fans. The new feature allows fans to send gifts on wheels by purchasing stars on Instagram. Meta is testing this feature with a small group of creators in the US first, and plans to expand it to more creators soon.

In addition, Meta is extending its professional mode profile setting on Facebook to all creators. Professional mode is designed to be used by creators who want to monetize their followers on the social network. Facebook began testing professional mode with select creators in December 2021 and now offers it to everyone on its platform.

The new changes come at a time when Meta is investing in its creator user base, seeing the potential in a new revenue stream that comes from things like creator subscriptions.

With these new updates, Instagram is trying to strengthen its platform against the threat of competition, namely from TikTok, which has attracted a growing number of creators. And as Meta continues to build the metaverse, it will need support from creators, so it’s no surprise that it’s looking to expand its creator offerings.