Faizel Patel
Senior Digital Journalist
2 minute read
5 Aug 2022
4:39 pm

Meta announces expansion of NFT support on Instagram

Faizel Patel

As part of the expansion, more people, creators and businesses in more than 100 countries will be able to share their NFTs on Instagram.

Photo: iStock

Meta CEO Mark Zuckerberg has announced that Meta is beginning its international expansion of digital collectibles on Instagram, following the initial test launch of the product in May.

As part of the expansion, more people, creators, and businesses in more than 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas will be able to share their NFTs on Instagram.

The feature allows people to connect a digital wallet, share digital collectibles (NFTs), and automatically tag both a creator and collector for attribution.

ALSO READ: WhatsApp users warned of new scam to steal personal accounts

Prior to the expansion, the support was only available to select creators in the United States.

The company also announced today that Coinbase Wallet and Dapper Wallet are now accepted as a third-party wallet compatible for use.

“We  are expanding our supported blockchains to include Flow, in addition to Ethereum and Polygon.”

Meta says this milestone reflects the company’s continued work to expand access to web3 technology through NFTs, and support creators who want to monetise their work and build community with their fans and collectors.

When Meta announced digital collectibles back in May, Zuckerberg shared his thoughts on the potential for this technology to benefit creators as part of his conversation with Tom Bilyeu.

“We’re not just building technology. We’re trying to also help foster this ecosystem, because at the end of the day, we’re not going to build most of the content – by a long shot. The vast majority of it is going to get created by creators in the ecosystem. And so, I think a big part of what we need to do is really lean into all of the different ways that creators could make money.

“So some of that will be things like supporting commerce, part of that will be NFTs and ownership around that… I just think the more different tools that creators have to be able to make money, the more they’re going to be able to do their work and hire people to join their team, to build out even more use cases. And that will propel all these platforms forward,” Zuckerberg said.

Meta says it will continue listening to feedback as it embarks on this area of investment for the company and continue rolling out the product.

“We’ve already started to bring digital collectibles to Facebook, as well as allowing people to display and share their digital collectibles as AR stickers in Instagram Stories.”

You can share NFTs in your main Instagram Feed, Stories or in messages.

Once you post a digital collectible, it will have a shimmer effect and can display public information, such as a description of the NFT.

In order to post a digital collectible on Instagram, you need to connect your digital wallet to Instagram.

ALSO READ: WATCH: Samsung to unveil new foldable smartphones at ‘Unpacked’ event