logo
logo
Sign in

NFTs are coming to Instagram!

avatar
stacey roberts
NFTs are coming to Instagram!

After Twitter, NFTs or non-fungible tokens are now coming to Instagram. The platform will soon support NFTs from Ethereum, Solana, Polygon and Flow blockchain.


Meta, the parent company of Instagram, is reportedly working on non-fungible token (NFT) interfaces with Ethereum, Polygon, Solana, and Flow, as per information from CoinDesk. 


Interestingly, these blockchain networks handle the majority of NFT digital collectibles transactions, with Ethereum and its Bored Apes Yacht Club topping the market in terms of market capitalisation.


The pilot program will feature a small number of NFT enthusiasts from the United States. Moreover, Instagram plans to enable popular cryptocurrency wallets such as MetaMask.


After this move, users will be able to prove ownership of their NFTs, display them on their accounts, and tag the creators who developed them by plugging in their wallets.


In contrast with Twitter, Instagram would not charge users to upload and share non-fungible tokens. The microblogging site Twitter initially charged a fee for its hexagonal NFT profile images.


This new decision will increase the cultural visibility of NFTs. Numerous artists promote and sell their work on Instagram, which has more than a billion monthly active users.


Mark Zuckerberg, the chief executive officer of Meta, provided a general overview of the programme at SXSW in March without providing specifics, as previously reported by Business Today.


NFTs are certificates of ownership, associated with the real world or digital objects, and are minted on the blockchain. They have become popular in the recent times, with several digital collectibles being sold for millions of dollars. Many celebrities have also started minting their personal NFTs, in a bid to connect with fans.


Source: https://www.businesstoday.in/crypto/story/nfts-are-coming-to-instagram-all-details-here-332784-2022-05-09


NFT Development Company



Bitdeal - Being a leading NFT Development Company we provide extensive technical support to create NFTs and next-gen NFT Marketplaces for various use cases like Music, Arts, Games, Collectibles, and more. From design to deployment Bitdeal provides A to Z NFT Development Services. Apart from creating non-fungible tokens and NFT Marketplaces, Bitdeal provides extensive support on NFT Storage Solutions too. 

collect
0
avatar
stacey roberts
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more