Instagram To Support NFTs On Ethereum And Start Testing This Week
Instagram NFT!! the CEO Adam Mosseri today announced that the site will begin testing NFTs with some US developers this week. According to Moseri, there is no cost to upload or share digital collections on Instagram. Ethereum and Polygon have currently supported blockchains for displaying NFTs on Instagram, and Flow and Solana support will soon be available. Rainbow, MetaMask, and Trust Wallet have been compatible since launch, and Coinbase, Dapper, and Phantom will be compatible shortly thereafter.
Instagram NFT interoperability allows Ethereum, Polygon, Solana, and Flow NFT to take advantage of new features. The platform has about 1.1 billion monthly active users, and until recently NFTs had limited access to the platform.
Twitter initially paid users to show their NFTs in a hexagonal profile image. However, there is no longer a price for negative comments, and anybody can use the site for free.
Meta is growing its presence in the NFT market
Mark Zuckerberg tells Tom Bilyeu about NFTs and the larger Metaverse. "We're starting to design NFTs not only for Metaverse and Reality Lab work but for the entire family of applications," he continued. "We'll soon be launching similar features on Facebook."
Meta also states that it is working on various ways to integrate NFTs into Instagram. One approach is to use 3D augmented reality NFTs. These are powered by SparkAR software and are compatible with Instagram stories. In particular, Instagram is considering integrating a Bitcoin wallet in addition to NFTs. It is said to contain popular wallets such as MetaMask, Rainbow, and TrustWallet.
In a series of tweets that have since been removed, Alexandru Voica, EMEA tech comms at Meta, stated that "in the metaverse, individuals will buy, utilize, and exchange digital products and experiences, and NFTs are a critical piece of the jigsaw for making this a reality."
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