Latest Updates about Meta On Instagram NFTs

Latest Updates about Meta On Instagram NFTs! Here’s what you need to know! On 4 August, Meta Newsroom announced more people and creators in the community could post their NFTs on Instagram.

The Announcement

On 4 August, Meta Newsroom posted an update regarding Instagram NFTs in the latest press release. They announced their expansion in more than 100 countries, including Africa, the Asia Pacific, the Middle East, and the Americas. Furthermore, it also supports wallet connections with Coinbase Wallet and Dapper. People can also post digital collectibles minted on the Flow blockchain. 

How does it work? If people want to post digital collectibles on Instagram, they have to connect their digital wallets to Instagram. The company has support from third-party wallets such as Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet, which will be available soon. At the moment, supported blockchains are Ethereum, Polygon, and Flow. Meta added there would not be any fees to post digital collectibles on Instagram. 

To add to the information, FLOW surged roughly 50% following the announcement.

Before the New Announcement

In May 2022, Meta first introduced digital collectibles on Instagram to the community. It is one of the ways for Meta to push creators to keep improving in the industry. In this one, creators can share their arts, interact with fans, and gain income. The company began with digital collectibles from US creators and collectors.

According to the press release, through this new initiative, they can “leverage new tools to earn income, [and] fans can support their favorite creators by purchasing digital collectibles – art, images, videos, music, or trading cards – as non-fungible tokens (NFTs).”

With Meta opening the access for more people, creators, and businesses to get involved, this may be a good opportunity for anyone to show their talents and earn income.

Related: Mark Zuckerberg Reacts To Meta’s Metaverse, Reality Labs Huge Q2 Loss

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