Tech giant Meta announced that Instagram users would soon be able to mint, showcase, and sell digital collections powered by NFTs on the Polygon blockchain.
According to the announcement, Instagram intends to incorporate an entire end-to-end toolkit that can be utilized for the showcasing and selling of NFTs, both on and off the platform, starting on the Polygon blockchain.
Polygon co-founder Sandeep Nailwal noted, “The value added to the creator economy is unmatchable and championing verifiable digital ownership on a platform with such reach will help us further our goal of onboarding the next billion users to Web3.”
Meta revealed that it will test these new features with a select set of creators in the U.S. before rolling them out to more users and countries.
For early access to the new Instagram NFT features, creators including photographer DrifterShoots, visual artist Ilse Valfré, artist Amber Vittoria and many more are chosen.
Facebook and Instagram users are able to upload NFTs based on Ethereum, Polygon, and Flow by connecting their wallets, such as Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet.
Now Meta has added the Solana blockchain to that bunch along with Phantom Wallet. Meta is also expanding the types of digital collectibles that users can showcase on Instagram, including videos.
Meanwhile, Meta’s Head of Commerce and Fintech, Stephane Kasriel, stated, “Meta won’t charge fees to create or sell digital collectibles until 2024, but any in-app transactions are still subject to applicable app store fees.”
In August, Meta introduced NFT support for Instagram in 100 countries with a limited user base. As per the recent announcement, all users in these 100 nations can now access the function on Instagram.
In September, Meta allowed Facebook and Instagram users in the U.S. to connect their wallets, share their NFTs and cross-post the NFTs they hold on Facebook and Instagram.
