SNEAK PEEK
- Meta’s Instagram to soon allow the creation of NFT and trading tools built-in, but in-app purchases are going to be subject to applicable app store fees.
- The upcoming end-to-end toolkit for digital collectibles will allow users to create and launch their own NFTs through Instagram and auction them.
- Instagram will be utilizing the Polkadot blockchain for NFT minting and will be pulling NFT metadata from OpenSea so that collection names can be viewed on Instagram.
In an announcement made by Meta, Instagram will soon have tools in-built that will allow the creation of NFT and trading. However, it was revealed that in-app purchases are going to be subject to applicable app store fees.
Soon you’ll be able to make and sell #NFTs on @instagram, starting with @0xPolygon. You can also now connect to @solana and Phantom wallet, and see information about @opensea collection: https://t.co/aH8035Tk8n
— Meta (@Meta) November 2, 2022
Comment your #NFT below 👇 pic.twitter.com/dvHau9n9Yu
It was announced on Wednesday that the leading social media platform, Instagram, is facilitating the development of an NFT minting and sale feature via its application. The toolkit will be end-to-end for NFTs and will be allowing users to create and launch their own NFTs for auction through Instagram.
Stephane Kasriel, the Head of Commerce and Fintech, released a statement regarding the same and addressed that a small group of creators will soon be able to facilitate the creation of NFTs or digital collectibles. In addition to this, they will have the ability to sell their artwork on Instagram.
What’s more, to add to the most significant takeaways is the fact that Instagram will be utilizing the Polygon blockchain at launch for carrying out the minting of NFTs. Moreover, the app will also be pulling NFT metadata from OpenSea so that the collection names and descriptions can be viewed on Instagram.
Well, it should be laid emphasis on the fact that Meta will be rolling out the brand new NFT features to a select group of content creators and artists first before offering the features to a broader audience. Creators such as DrifterShoots, Amber Vittoria, and Ilse Valfré are some of the selected artists who will be gaining early access to the new Instagram NFT features.
Vittoria shared her thoughts regarding the same and mentioned that Meta and Instagram are constantly finding new and innovative ways in order to help creators support themselves and their art practice.
Back in August, it was announced that FB and Instagram users would be able to post NFTs from digital wallets by linking digital wallets to Instagram to display digital collectibles on both platforms.
Following this announcement, Meta announced in September that it would be allowing users to crosspost and share NFTs on Meta and Instagram.
