Quick Summary:
Instagram NFT integration expands to 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas. This expansion is a part of the test launch of NFTs on Instagram in May this year. Meta will eventually include more countries in the next phase.
Read More: Instagram NFT Integration Coming Soon
Background:
Facebook rebranded itself to Meta on October 28, 2021 however the platform started acquiring crypto-related assets long before that. In December 2021, in an AMA CEO Instagram expressed that Instagram is working to make NFTs more accessible to a broader audience.
On May 9 he Tweeted “NFTs on Instagram” pitching his new product again. The Meta Spokesperson Christine Pai revealed that NFTs on Instagram will be based on Flow, Ethereum, and Polygon. The NFTs were then released to learn from the experience in a beta version of Instagram where a small group of people tested the digital collectibles.
Mark Zuckerberg announced we’re rolling out digital collectibles to 100 more countries. Now, more people, creators and businesses can showcase their #NFTs on @instagram.
— Meta Newsroom (@MetaNewsroom) August 4, 2022
We’re also launching integrations with @CoinbaseWallet @hellodapper and support for @flow_blockchain.
Instagram is a web 2 social media platform used by users to consume content like images and video reels. With the addition of NFTs, the Web 3 product, Instagram will neither be a web 2 platform nor web 3. Since it includes all the features of web 2 and web 3 products as NFTs, it will be Meta’s first Web 2.5 platform. Just like Opensea, Users will have to connect their Web 3 Wallets to trade NFTs on Instagram. At the moment, users can use third-party web 3 wallets like Dapper, Rainbow, MetaMask, Trust, and MetaMask.
Instagram has a cross-platform posting feature that allows users to post a picture or a video on Instagram and it will also be posted on Meta. Meta product manager Navdeep Singh said that Meta has that feature in mind and they are actively testing it will NFTs. This means Meta will also be an NFT platform soon.
Conclusion:
Meta is a giant tech company that is inspiring a lot of projects to enter and explore the crypto-digital world of NFTs and Metaverse. The Instagram integration will expand the NFT community and make them more accessible.
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sources: Twitter, Meta, Instagram
author: mnmansha
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
