Instagram to support NFTs on Ethereum, Polygon and Flow this week
On Monday, Meta CEO Mark Zuckerberg confirmed that Instagram will be experimenting with NFT support with a number of U.S. creators and collectors across its apps. Through the experiments, these creators and collectors can share NFTs they’ve created or bought on their profiles for free.
In a podcast episode speaking to blockchain entrepreneur Tom Bilyeu about NFTs and the Metaverse, Zuckerberg said, “We’re starting building for NFTs not just in our metaverse, and Reality Labs work, but also across our family of apps.” he added, that they'll will launch “similar functions” on Facebook in the future.
How will NFTs function on Instagram?
Instagram will initially allow displaying of NFTs issued on Ethereum, Polygon, Solana and Flow on the users’ main IG feed, stories, or direct messages for free. There will also be a new NFT tab to participating user accounts, with a tick to indicate verified NFTs.
He also confirmed that Meta is working on several ways to introduce NFTs on Instagram, including through 3D, AR NFTs to appear as stickers users can post on their Instagram stories.
Instagram will also allow users to connect their cryptocurrency wallets, including MetaMask, Rainbow, Trust Wallet, to verify NFT ownership. Support for other wallets such as Coinbase and Dapper will follow soon.
Instagram has been developing NFT support since June 2021, showing how users can showcase their NFTs on the social media platform and facilitate NFTs, to provide a more integrated connection to the broader NFT marketplace.
“It’s about expression, saying something about yourself. What do you want on your profile? What’s the collection that you want to show?” Zuckerberg told Bileyu in the podcast episode.