Meta has announced that it will test ways to buy and sell non-fungible tokens (NFTs) on Instagram for fans and collectors both on and off Instagram.
With the goal of expanding to more countries soon, Meta is testing the new feature with a "small group of creators in the US." In a blog post, the company said, users can purchase digital content from their favorite creators directly from Instagram to support them. Additionally, Meta has expanded the list of digital holdings users can view on Instagram to include videos and added support for Solana and Phantom blockchain wallets.
“We make it easy for people to show their appreciation for their favorite content creators through our apps, helping content creators strengthen their community and build their business,” Meta said.
The tech giant has also expanded access to subscriptions on Instagram for all eligible creators in the US, so more creators can generate ongoing income and build closer relationships with their most devoted followers.
Additionally, Meta has given away giveaways on Instagram, starting with Reels, so creators can earn money from their followers.
The company said followers can purchase "Stars" directly from Instagram to send gifts and support their favorite creators in Reels.
Previously, Meta launched new features on Instagram to protect users from abuse, along with hidden word updates.
Meta says its digital collectibles toolkit will let people create NFTs on the Polygon blockchain (as always, no relation to Polygon the video game news outlet) and then sell them either on Instagram or off the platform. The company claims that you may now showcase NFTs from the Solana blockchain in addition to the Ethereum when showcasing NFTs that you've acquired from other sources, Polygon, and Flow blockchains that the feature already supported. Similar to what Twitter does for its NFT profile image feature, it is also adding some metadata from OpenSea to the display.
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