Meta’s Instagram will support NFTs from four major blockchain networks. Users will not have to pay to post NFTs on Instagram.
NFTs on Instagram 🎉
This week we’re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.
See you next week! ✌🏼 pic.twitter.com/VuJbMVSBDr
— Adam Mosseri (@mosseri) May 9, 2022
The social media platform plans to integrate Ethereum, Polygon, Solana and Flow, with the announcement of a pilot expected today. The pilot of Instagram’s NFT feature will be available to a small group of U.S.-based NFT collectors.
Ethereum, Polygon, Solana and Flow host the majority of NFTs in the market today. It is unclear whether Instagram will integrate all four blockchains at the launch of the NFT feature.
In addition to supporting the four major blockchains, the social media platform also has plans to support widely used cryptocurrency wallets, including MetaMask.
After connecting their wallets to Instagram, users will be able to prove NFT ownership, display their NFTs on their profiles and tag the creators of the crypto art.
Moreover it has confirmed that Instagram will not charge users to post their NFTs, unlike Twitter, which launched its NFT profile photo verification feature as a paid subscription service.
With more than a billion active users, Instagram’s multi-chain support for NFTs will bring more visibility to the NFT space, especially for creators who use the social media platform to market and promote their art.
Meta CEO Mark Zuckerberg revealed in March that NFTs would be coming to Instagram in the coming months. He said the platform will initially allow users to share NFTs from other platforms before rolling out minting tools in the coming months, confirming an earlier Financial Times report.
NFT digital collectibles on Instagram
A few days ago we told you that Facebook (Meta, in fact) was preparing to enter the NFT world on Instagram. Now it has done so, and here are the details.
NFTs on Instagram 💫
We’re testing ways for creators and collectors to share NFTs they’ve created or own on Instagram with a shimmer effect. pic.twitter.com/tXGoH1Z6Gf
— Instagram (@instagram) May 10, 2022
The idea is that great creators with many fans will have the possibility to show their works on NFT on Instagram, so that followers can support them by buying them. We are talking about images and videos, music or stickers, but only a group of selected creators and collectors can share their digital collectibles on Instagram.
So far, there are only a few selected creators, and all in the United States. With the new feature, they can:
- Connect their account to a digital wallet from where they can choose which NFTs from their wallet they would like to share on Instagram.
- Share digital collectibles. Once a creator or collector posts a digital collectible, it will have a shiny effect and will be able to display public information, such as a description of the NFT. Posts will also be visible on their profile.
- Automatic tagging of both the creator and the collector. The creator and collector can be automatically attributed in the digital collectible publication.
Thanks to blockchain technology it is possible to identify which collectibles belong to collectors and creators. Initially they will do this with Ethereum and Polygon, with Flow and Solana coming soon.
Meta comments that there will be no fees associated with posting or trading a digital collectible on Instagram, it will be something between creator and fan, with no commissions for Instagram.
Some accounts already selling NFT, are: @adambombsquad , @bluethegreat , @bossbeautiesnft , @c.syresmith , @cynthiaerivo , @garyvee , @jenstark , @justmaiko , @maliha_z_art , @misshattan , @nopattern , @oseanworld , @paigebueckers , @phiawilson , @swopes and @yungjake.
Meta indicates that they will also implement digital collectibles on Facebook and allow people to display and share their digital collectibles as AR stickers on Instagram Stories.