Meta rolls out NFT support on Instagram to 100 countries
New update by Meta will allow users to post NFTs on their Instagram stories, feed and more
By Shashank Bhardwaj
Social media giant Meta has taken another step into the creation of a Metaverse by announcing that they are rolling out NFT support for Instagram in other countries as well.
This news has come forward recently after the company started its test launch in May by rolling out beta support for NFT. Meta is inclined to check whether the users were interested in posting their digital art collection and non-fungible tokens on their social media platform.
The test launch was not limited to just the platform Instagram as the company plans to introduce it over Facebook.
For the test launch, the NFT support was made possible only to the users in the USA by linking their digital wallets with Instagram. NFT support on Instagram highlights the news as it turns out to be a big step toward creating a Metaverse. The company launches the support for users in 100 countries in the USA, Asia-Pacific, Africa, and the Middle East. Users of these countries can use NFT as stickers on their stories from August 4. Users must now link their digital wallets with Instagram to post their NFT collection and digital art. Coinbase and Dapper are the two supported third-party digital wallets as of now. Meta has made its plans clear about expanding the blockchain support. Instagram now also supports the blockchain network on Flow, which is an expansion step.
With this new update, Instagram users can post their NFTs on their Instagram feed and share them with others. Further, users can automatically tag the creator and collector of the NFT for proper attribution. Posting the NFT collection on Instagram will make the digital art shimmer and display information regarding the NFT, such as the creator, owner, value, etc.
Apart from just Coinbase and dapper, Instagram is also planning to partner with third-party digital wallets like MetaMask, Trust wallet, and more. Currently, users are not charged any fees related to posting their collection.
Going further with the expansion, Meta also plans on introducing AR NFTs and virtual reality on Instagram using SparkAR, their AR platform. "Meta understands that blockchain technology and NFTs raise important questions on sustainability," said the company spokesperson. The company also mentioned its plans to purchase renewable energy to reduce the impact of displaying NFT on Instagram. Navdeep Singh, the company's testing manager, stated that testing is currently underway with the goal of enabling cross-posting via NFTs.
Shashank is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist.
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