Instagram is venturing into the field of NFTs as recently confirmed by the app’s head, Adam Mosseri.
He revealed how keen the company is on making this decision where selective creators will begin testing the new feature as early as this week in the US.
Mosseri says users don’t need to worry about paying because the functionality will be free of cost and that means things can now be posted or shared through the platform with ease.
As far as which blockchains will be included, well, the answer is Polygon with Ethereum for now. However, users can gear up for more excitement as the app plans on including support related to Flow as well as Solana.
The company also highlighted how it plans on making several third-party wallets accessible during the launch such as MetaMask, Phantom, Coinbase, and Rainbow.
This opportunity is being recalled as major by tech experts as both users and content creators who join the experimentation process can willingly share the NFTs, either custom-designed themselves or ones bought by others.
Common places where we might be seeing these NFTs being shared include Instagram’s news feed, the Stories section, or perhaps the part of the message. At the moment, very few people currently can access this popular Instagram test.
But that does not mean the app is not working hard at making more features of NFTs, which it hopes to roll out soon to the masses. For now, Mosseri says the app is looking forward to feedback on the experimentations being conducted. And based on that response, he hopes Instagram can move ahead.
The Instagram head reiterated in his public statement how important of a factor trust was during the NFT launch as well as power distribution. Since the app prefers working in a centralized manner, that’s where the issue lies.
Hence, that is the sole reason why Instagram plans on starting small and then expanding from there. Remember, NFT is basically a real-world asset and many predict it to be the future. Therefore, Instagram hopes to soon make it accessible to wider audiences.
Instagram also delineated a list of the selected few creators from the US that would get a first hands-on experience. Remember, Instagram relies heavily on its creator community and while there are different ways through which they can generate revenue, some are quite unpredictable.
It’s interesting to note how Facebook CEO Mark Zuckerberg reportedly made a similar announcement relating to NFTs and their launch across the platform, as well as other Meta apps as well. This includes the release of AR NFTs and some interesting cases of 3D NFTs via the help of Spark AR.
Meta has previously shed light on how pivotal a role NFTs are in the Metaverse as users learn to make purchases and share their experiences in digital goods via their work.
The launch of NFTs for Instagram comes moments after Twitter announced its decision to enable NFT-based images for user profiles. However, they are solely limited to their exclusive premium users for now. And soon, we just might be seeing YouTube expand into web3 technology too.
Read next: Instagram Begins Trials For TikTok Inspired Full-Screen Home Feeds And More Recommendations For Its Main Feed
He revealed how keen the company is on making this decision where selective creators will begin testing the new feature as early as this week in the US.
Mosseri says users don’t need to worry about paying because the functionality will be free of cost and that means things can now be posted or shared through the platform with ease.
As far as which blockchains will be included, well, the answer is Polygon with Ethereum for now. However, users can gear up for more excitement as the app plans on including support related to Flow as well as Solana.
The company also highlighted how it plans on making several third-party wallets accessible during the launch such as MetaMask, Phantom, Coinbase, and Rainbow.
This opportunity is being recalled as major by tech experts as both users and content creators who join the experimentation process can willingly share the NFTs, either custom-designed themselves or ones bought by others.
Common places where we might be seeing these NFTs being shared include Instagram’s news feed, the Stories section, or perhaps the part of the message. At the moment, very few people currently can access this popular Instagram test.
But that does not mean the app is not working hard at making more features of NFTs, which it hopes to roll out soon to the masses. For now, Mosseri says the app is looking forward to feedback on the experimentations being conducted. And based on that response, he hopes Instagram can move ahead.
The Instagram head reiterated in his public statement how important of a factor trust was during the NFT launch as well as power distribution. Since the app prefers working in a centralized manner, that’s where the issue lies.
Hence, that is the sole reason why Instagram plans on starting small and then expanding from there. Remember, NFT is basically a real-world asset and many predict it to be the future. Therefore, Instagram hopes to soon make it accessible to wider audiences.
Instagram also delineated a list of the selected few creators from the US that would get a first hands-on experience. Remember, Instagram relies heavily on its creator community and while there are different ways through which they can generate revenue, some are quite unpredictable.
It’s interesting to note how Facebook CEO Mark Zuckerberg reportedly made a similar announcement relating to NFTs and their launch across the platform, as well as other Meta apps as well. This includes the release of AR NFTs and some interesting cases of 3D NFTs via the help of Spark AR.
Meta has previously shed light on how pivotal a role NFTs are in the Metaverse as users learn to make purchases and share their experiences in digital goods via their work.
The launch of NFTs for Instagram comes moments after Twitter announced its decision to enable NFT-based images for user profiles. However, they are solely limited to their exclusive premium users for now. And soon, we just might be seeing YouTube expand into web3 technology too.
Read next: Instagram Begins Trials For TikTok Inspired Full-Screen Home Feeds And More Recommendations For Its Main Feed
