May 30, 2023

Meta CEO and Facebook co-founder Mark Zuckerberg has announced the expansion of their non-tradeable token (NFT) features for Instagram. It was developed on May 10, 2022 and enables users to display their digital collectibles on social media.

The feature will be available in more than 100 countries for users in Asia, Africa, the Middle East and the Americas. This will allow content creators to “leverage new tools to earn income” and connect with their followers in innovative ways, according to official notification.

The Zuckerberg-led company also announced that it will support connections to Coinbase Wallet and Dapper Wallet and integration with the Flow blockchain. The latter celebrated the announcement through their official Twitter handle.

The team behind the Flow blockchain he said:

Our partnership with Instagram is rolling out, meaning select users can now link their Dapper wallet and showcase their favorite NFTs directly to their account! Access will be available all month, so get ready to Flow On Instagram. We’re excited to give everyone a new way to share a part of who they are on Instagram This partnership reflects how much flow resonates with developers, creators and users by providing the right foundation to support consumer-scale NFT adoption

NFT mode was already compatible with MetaMask, Trust Wallet and other crypto wallet service providers. So users can connect to Ethereum, the most used blockchain in terms of NFTs, and Polygon’s second layer scalability solution and now Flow blockchain for free.

The company had this to say about the process that will allow users to share NFT-based items with their followers:

To post a digital collectible, all you need to do is link your digital wallet to Instagram. As of today, we support connections to third-party wallets, including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet coming soon.

Will NFT Collectibles Change the Social Media Experience?

The NFT feature on Instagram will allow content creators to tag other users and automatically give them credit for collaborations. The digital elements on the platform will have distinct features, such as a glow effect with the option to display additional information, as shown in the image below.

NFT Instagram META 1
Source: Meta

In addition to Ethereum, Polygon and Flow, features will be integrated with Solana-based NFTs in the coming months. Also, Meta is working on adding new wallets with the Phantom wallet to the lineup for future integration.

The Zuckerberg-led company added the following about its efforts to give users access to the crypto space:

It is critical that our early efforts in this space empower diverse voices and that underrepresented groups have access to emerging digital assets like NFTs. By building support for NFTs, we aim to improve accessibility, lower barriers to entry, and help make the NFT space more inclusive of all communities.

At the time of writing, Ethereum (ETH) is trading at $1,620 with a loss of 2% in the last 24 hours.

The price of ETH is moving sideways on the 4-hour chart. Source: ETHUSDT Tradingview

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