Instagram has entered the NFT chat.
Today (November 3), Meta shared that it would soon let creators on Instagram be able to create their own NFTs and then sell them directly to fans, both on and off Instagram. The update would give creators access to a toolkit that’ll help them create, showcase and sell NFTs.
Currently, Meta is testing the new feature out with a small group of creators in the US, and says it plans to expand it to more countries. It’s also, at this stage, not taking a cut of the creators’ revenues.
Meta chose decentralised Ethereum scaling platform Polygon as its first partner for the feature. Instagram users can buy the NFTs directly within the app, using traditional in-app purchases across iOS and Android.
Soon you’ll be able to make and sell #NFTs on @instagram, starting with @0xPolygon. You can also now connect to @solana and Phantom wallet, and see information about @opensea collection: https://t.co/aH8035Tk8n
— Meta (@Meta) November 2, 2022
“We’re also expanding the types of digital collectibles that you can showcase on Instagram to include video and adding support for the Solana blockchain and Phantom wallet, in addition to the blockchains and wallets that we already support,” Meta wrote in a release.
In addition, information for select collections where the metadata has been enriched by OpenSea, such as collection name and descriptions, will now be available on Instagram.
Back in September, Meta had announced its Facebook and Instagram users in the US could connect their wallets and share their digital collectibles. The new feature would also let people cross-post digital collectibles that they own across both Facebook and Instagram. Everyone in the 100 countries where digital collectibles are available on Instagram could access the feature.
Back in September, Meta announced its Facebook and Instagram users in the US could connect their wallets and share their digital collectibles. The new feature would also let people cross-post digital collectibles that they own across both Facebook and Instagram. Everyone in the 100 countries where digital collectibles are available on Instagram could access the feature.
Also among the roll-out of new features this week is an increase in access to Stars, which let creators earn money directly from followers on Reels, live and video on demand. Facebook is bringing Stars to non-video content like photos and text posts, and is testing automatic onboarding for creators.
For creators already using Stars, Facebook is introducing Stars Party to reels. It’ll be a celebratory moment that happens when a spike of Stars are sent from fans.
“When the spike occurs, an overlay with a 5-minute countdown will appear on the screen with a progress towards a goal, encouraging fans to send Stars and meet the Stars goal,” Meta writes.
These new Instagram features are among a laundry list of updates Meta has announced this year alone, including Paid Subscriptions, Dual and Remix and Notes. As of yet, none of these appear to have launched in Australia.