Meta will soon allow you to mint and sell NFTs on Instagram | The Financial Express

Meta will soon allow you to mint and sell NFTs on Instagram

Meta is also expanding the NFT showcase on Instagram which was recently made available in over 100 countries.

Meta will soon allow you to mint and sell NFTs on Instagram
Instagram is adding reels for recap 2022, allows customization and using templates from creators. (Photo Credits- Reuters)

Popular photo-sharing app Instagram is working on an end-to-end toolkit that will allow creators to mint, show and sells non-fungible tokens. Meta, the parent company of Instagram, during its Creator Week 2022 event, announced that it’s testing a way that will allow creators to mint and sell NFTs to their fans both on and off Instagram. The feature will be first made available to a small group of creators first with plans to expand to more countries soon.

Meta is also expanding the NFT showcase on Instagram which was recently made available in over 100 countries. “We’re also expanding the types of digital collectables that you can showcase on Instagram to include video and adding support for the Solana blockchain and Phantom wallet, in addition to the blockchains and wallets that we already support,” reads the blog post on new tools for creators to build a business on Facebook and Instagram. This means that you can now show off your digital collectables on Solana blockchain and Phantom wallet along with already existing supports for blockchains and wallets.

Meta’s new toolkit for NFTs will allow people to mint NFTs on the Polygon blockchain and sell them on or off Instagram. Meta says that people can support their favourite creators by buying their digital collectables directly on Instagram.

Instagram is also expanding access to subscriptions to all eligible creators in the US so that more creators can earn predictable income and connect more deeply with their most engaged followers. “Since launching subscriptions earlier this year, we’ve seen creators like Cole Sprouse (@colesprouse), Alan Chow (@alanchikinchow) and Skai Jackson (@skaijackson) use subscriptions to get even closer to their most engaged supporters.”

Meta is also making it easy for people to discover Stars on Facebook by automatically enabling Stars on public creator content, including Reels. It means that people can learn about and use Stars in more places across Facebook. It is being tested with a select number of creators globally. 

ALSO READ | Instagram testing Group profile feature, here’s what it does

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First published on: 03-11-2022 at 14:42 IST