Meta expands NFT support on Instagram in over 100 countries

Meta CEO Mark Zuckerber announced that its social media platform Facebook, is expanding its Instagram digital asset integration over 100 countries. 

Users and businesses in more than 100 countries in Africa, Asia-Pacific, the Middle East and the Americas will now be able to share their NFTs on Instagram minted on the Flow blockchain. Meta's currently supported blockchains include Ethereum, Polygon and Flow. 

This includes supporting wallet connections with Rainbow, MetaMask, Trust Wallet, Coinbase wallet and Dapper.

This means users can connect their digital wallets, with the wallets mentioned above, share NFTs and tag both a creator and collector on Instagram. They can also share NFTs on their Instagram Feed, Stories or in private messages along with a description of the digital asset. There will be no fees associated with posting or sharing NFTs on Instagram. 

With this move, the company is bringing NFT integration into the mainstream as Instagram has more than two billion worldwide active users, according to CNBC. 

The initiative comes after Facebook’s NFT test launch in May during which users can display NFT PFPs.

In similar news, Meta has spent US$10 billion to start building the Metaverse in 2021 through its Horizon Worlds virtual reality (VR) world. 

During Q2 of this year, the company’s revenue fell 1% 12 months over 12 months to US$ 28.8 billion while its working earnings declined by 32% to US$ 8.36 billion over the same period. 

Photo: Instagram: