May 29, 2022

TECHNOLOGY GADGET

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This week, Instagram will begin testing NFTs with a selected user group

A small group of Instagram users will be able to display non-fungible tokens (NFTs) directly on the sharing platform beginning this week. They’re starting small to learn from the community, which is an essential strategy given that Instagram is a centralized platform and NFTs are decentralized.Instagram CEO Adam Mosseri announced that select users would soon be able to share NFTs they’ve made or purchased in Feed, Stories, or messaging.According to our sources, there will be no charge for posting or sharing an NFTs on Instagram.NFTs on Instagram 🎉
This week we’re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.
See you next week! ✌🏼 https://t.co/VuJbMVSBDrMeta CEO Mark Zuckerberg added that plans are in the works to bring similar functionality to Facebook shortly. If Meta is successful, it may add NFTs support to other apps or services in its family. Meta also owns WhatsApp, Oculus, Giphy and Facebook and Instagram.Zuckerberg also stated that they are working on augmented reality NFTs, also known as 3D NFTs, for Instagram Stories using Spark AR.The full interview with Zuckerberg with Tom Bilyeu of Impact Theory is available on YouTube. Additional information about the Instagram tie-in, such as supported blockchains and third-party wallet support, was reportedly shared on Twitter by Meta employee Alexandru Voica but has since been removed. According to 9to5Mac, which cited the post, Ethereum and Polygon blockchains and wallets Rainbow, Trust, and MetaMask will be supported.

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