Meta to Introduce Instagram NFT Minting and Trading
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Instagram users will soon be able to generate and exchange non-fungible tokens thanks to a new feature being introduced by social media corporation Meta, which is also the parent company of both Facebook and Instagram.
The social media company announced intentions to create an NFT minting and trading tool for its Instagram app in a blog post on November 3. Users will allow to easily design and launch their own NFTs for sale on Instagram thanks to the planned "end-to-end toolkit" for NFTs.
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
NFT Trading And Creation On Meta
Stephane Kasriel, Head of Commerce and Fintech at Meta, stated that the company will first roll out the new minting and trading function to a select number of creators before making the service available to a larger public when discussing the now much awaited NFT project. Kasriel elucidated:
“A small group of creators will soon be able to create digital collectibles (NFTs) and sell them right on Instagram.”
The most well-known NFT photographer DrifterShoots, visual artist Ilse Valfré, and artist and graphic designer Amber Vittoria were among the artists chosen for early access to the new Instagram NFT feature.
This Year's NFT Push by Meta
Meta has been expanding its Web3 ecosystem architecture over the last several months. The social media company introduced a wallet connection function earlier in May that enables a small number of producers to instantly show their NFTs on their Instagram and Facebook pages.
A few months later, the internet giant allowed users in the US and more than 100 other countries to exhibit their digital artifacts directly from their accounts on Facebook and Instagram.
Currently, Facebook and Instagram enable users can link their wallets to their profiles in order to show NFTs on the Ethereum, Polygon, and Flow networks.
Furthermore, Meta just revealed support for the Phantom and Solana wallets. The Polygon blockchain will be used by the new Instagram functionality for NFT minting. To display collection names and descriptions on Instagram properly, the program will also harvest NFT information from OpenSea.