Mark Zuckerberg made the promise last March and launched a first trial phase sometime later, NFTs on Instagram are now a reality. On August 4, Meta’s CEO announced via a Facebook post that the non-fungible token feature, called Digital Collectibles, is now available on Instagram in over one hundred countries. Users in Africa, Asia-Pacific, the Americas and the Middle East have the option to post NFTs on their personal page or in stories, while the European audience will still have to wait.
Meta intensifies its NFT strategy
Before posting NFT on Instagram, users need to link a digital wallet to their Meta account. To allow more people to take advantage of it, the social network is becoming compatible with Coinbase Wallet and Dapper Wallet wallets. They are added to Rainbow, MetaMask and Trust Wallet which were already available to selected first creators and collectors. Instagram is also expanding to the Flow blockchain, in addition to Ethereum and Polygon.
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Instagram’s Digital Collectibles feature allows users to share NFTs and automatically associate their creator and owner. NFTs can be posted on the Instagram feed, in Stories, or even shared via private message. When an NFT is published, a light effect is applied to the image to distinguish it from other posts.
Mark Zuckerberg had also mentioned publishing NFT in augmented reality (AR) via the Spark AR application, Meta’s augmented reality software. With the expansion of Digital Collectibles, NFTs in AR are now available as stickers in Instagram Stories.
Digital Collectibles, the premises of Meta’s metaverse?
The development of functionalities related to NFTs is part of the corporate strategy oriented to the Web3 and the metaverse. The American giant wants to make non-fungible tokens the center of the economy of its future virtual world. Digital Collectibles represents the premises of Mark Zuckerberg’s vision for NFTs. Meta says it wants to help creators monetize their work more easily and build a community with their NFT fans and collectors.
During the launch of Digital Collectibles last May, Mark Zuckerberg sought to reassure about the ecological issues posed by NFT and blockchain in general. “ We understand that blockchain technology and NFTs raise important issues in terms of sustainable development. Meta will help reduce the impact of emissions that can be associated with posting NFT on Instagram by purchasing more renewable energy “, Had declared the managing director of Meta.
Instagram isn’t the only social network to offer NFT. Since the beginning of the year, premium Twitter members can view a non-fungible token as their profile picture. Snapchat plans to integrate them into its application in the form of filters. Conversely, other tech players have expressed stark opposition to the concept, such as Minecraft, the best-selling video game of all time. Its creators don’t believe in the future of NFTs for video games.