Instagram NFT Platform to Launch For 4 Blockchains Today

Instagram NFT Platform to Launch For 4 Blockchains Today

  • Instagram will begin integrating NFTs on its platform from today, 9, May.
  • Asides from Instagram, other platforms like Twitter and Reddit have also embraced NFT integration.
  • The Instagram NFT integration will support tokens from the Ethereum, Solana, Polygon, and Flow blockchain.

Coindesk has reported Instagram would start integrating Non-Fungible Tokens (NFTs) from popular platforms like Ethereum, Flow, Solana, and Polygon from today.

Instagram NFT

The social media platform will concentrate on a selected group of NFT enthusiasts in the U.S. However, it’s not yet certain if it will eventually support NFTs from other networks during the pilot. Meta has also revealed that users will not be charged for using its Instagram NFT feature.

The pilot comes nearly two months after Mark Zuckerberg initially announced that Instagram would start adding NFTs, while speaking at a South by Southwest conference in Austin.

In addition to NFTs, Instagram will also support some popular cryptocurrency wallets such as MetaMask. This will be important since users must first connect their wallets to the platform before they can display the NFTs on their profile and then prove ownership. The platform will also allow owners to tag the creators of the NFT.

It is expected that this Instagram NFT integration will enhance the adoption of NFTs by increasing the number of people who have access to NFTs. As of now, Twitter is the only social media platform that has completely integrated NFTs.

Reddit recently had an NFT integration pilot, while YouTube allows its creators to freely explore the technological features. Since Instagram boasts of about one billion active users monthly, it would be able to bring NFTs to a larger audience.

Read also: New WhatsApp Update Allows 512 People Per Group

Meta, the parent company of Instagram, has promised to pay attention to the advantages of blockchain technology. The company’s decision to remodel Facebook to Meta last year resulted in increased corporate interest in the metaverse.

Also, the tech giant reported that it is planning to allow minting and group membership on Facebook later this year. This follows rumors about Meta’s plan to create a virtual currency called Zuck Bucks.

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