09/05/2022 Meta’s Instagram to Support NFTs From Ethereum, Polygon, Solana, Flow
The social media powerhouse won’t charge users for showcasing their crypto art.
Street Art in Williamsburg, Brooklyn by Masnah.eth
NFTs from some of the most popular blockchain networks for crypto art are coming to Instagram with the announcement of a pilot as soon as Monday.
The social media powerhouse owned by Meta is planning non-fungible token (NFT) integrations for Ethereum, Polygon, Solana and Flow, CoinDesk has learned. Those networks host the vast majority of trading in digital collectibles, with Ethereum and its Bored Apes leading the way by market cap.
The pilot will feature a small group of NFT aficionados based in the U.S. It wasn’t immediately clear whether Instagram would support NFTs from all four chains at launch.
Instagram intends to support widely used crypto wallets such as MetaMask. Plugging in their wallets, users will be able to prove NFT ownership, showcase them on their profiles and tag the creators who made them.
CoinDesk has confirmed Instagram will not charge users for posting and sharing NFTs, as Twitter initially did for its hexagonal NFT profile pictures in January.
The decision likely spells a rush of new cultural visibility for NFTs. Instagram has over one billion monthly active users; many of whom use the platform to promote and market their art.
Meta CEO Mark Zuckerberg teased the initiative in March without divulging much details.
The Financial Times previouslyreportedthat Meta would follow up its NFT pilot on Instagram with minting and group membership options on Facebook.
An email to Meta seeking comment wasn't immediately answered.
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