05/08/2022 Instagram Adds Flow Blockchain NFTs, FLOW Token Pumps 44%

Instagram’s NFT initiative now includes more than 100 countries, including collectibles from the Flow blockchain.


Over a billion people use Instagram each month. Image: Shutterstock
Over a billion people use Instagram each month. Image: Shutterstock

Instagram is expandingits NFT initiativeinternationally to more than 100 countries, parent company Meta announced today, plus it’s adding support forNFTscreated on theFlowblockchain. Now the FLOW token is pumping as a result.

FLOW is up nearly 44% over the past day, per data fromCoinGecko, with nearly all of that rise coming since Meta’s announcement this morning. As of this writing, FLOW is trading at $2.76 per token, with the latest price action bringing its 30-day rise to nearly 72%.

Instagram’s expanding integration lets collectors showcase their verified Flow NFTs on their account in Meta’s photo-sharing service. The initiative firstlaunched in the U.S.to select users in May, and now has expanded to include countries in Asia, Africa, and the Middle East as well.

The feature lets users connect a supported cryptowalletto prove ownership of NFT collectibles and choose which ones to display, with both the owner and original creator automatically attributed alongside the asset.

Facebook Begins Testing Ethereum and Polygon NFTs on Profiles

Meta, formerly known as Facebook, has begun rolling out NFTs for some U.S. creators on its flagship social network. Facebook is starting with Ethereum and Polygon NFTs but will soon add suppor...

An NFT is a blockchaintokenthat acts like a deed of ownership to an item, including digital goods like profile pictures, artwork, collectibles, and video game items. The NFT market rose to prominence in 2021, generating some$25 billion worthof trading volume. Already in 2022, the market has yieldednorth of $20 billionin sales.

Flow was created by Dapper Labs and is best known for Dapper’s own sports NFT projects, includingNBA Top Shot,NFL All Day, andUFC Strike. However, it’s an open blockchain platform used by an array of other projects, including notable ones like avatar creatorGeniesandkids’ collectibles app, Zigazoo.

Along with news of Flow support, Meta also announced that users can now connect a Dapper Wallet or Coinbase Wallet as part of Instagram’s expanding Web3 support. It appears that Instagram’s NFT initiative is still not fully open to the public, but it is opening up to more people.

In May, Meta announced that Instagram would begin integrating support for NFT collectiblesstarting with Ethereum and Polygon-based assets.Ethereumis the leading blockchain network for NFTs, whilePolygonis an Ethereumsidechainthat enables faster, cheaper, and more energy efficient transactions.

Instagram also plans to add support forSolanaNFTs, as announced in May. In June, Instagram’s sister company Facebook similarlybegan testing supportfor Ethereum and Polygon NFTs on profiles, and likewise revealed plans to add Flow and Solana support down the line.

Meta is pushing hard on the comingmetaverse, as the parent company of Instagram and Facebookchanged its name last fall(from Facebook Inc.) as it revealed its grand vision for a next-generation internet that is navigated with avatars in immersive 3D spaces.

Blockchain networks and NFTs are expected to be a part of an open, interoperable metaverse, and many crypto builders are developing the technology to enable that vision. Meta founder and CEO Mark Zuckerberghas hintedthat he’s interested in enabling interoperable assets as part of his platform, but Meta has yet to detail how open its metaverse will truly be.

Arts

https://decrypt.co/106747/instagram-adds-flow-blockchain-nfts-token-pumps

Interesting NFTs
CryptoPunk #3831
The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain.
Natalina
Shalom! My name's Natalina. I once peed on Princess Diana's cat. They had it coming. I put ranch dressing on everything. Like, everything: hot dogs, salad—everything! This will be an amewsing friendship.
Last Selfie #7/10
Was it worth it?
#90297
By OthersideDeployer
Mars House
Mars House is the first NFT digital house in the world. Upon purchase of Mars House NFT, 3D files will be sent to the new owner by Krista Kim Studio Inc. for file upload to the owner’s Metaverse. Technical support for Mars House integration on Metaverse is provided. (Architectural Digest, March 14, 2021) “Kim ventured into NFTs while exploring meditative design during quarantine; her hope was to use the influx of digital life as an opportunity to promote wellbeing. Comprised entirely of light, the visual effects of her crypto-home are meant to omit a zen, healing atmosphere. The artist also partnered with musician Jeff Schroeder of The Smashing Pumpkins to create a calming musical accompaniment. So what makes the file a compelling purchase? Beyond the promise of buying into the lucrative NFT market, the home and all of the furniture in it can be built in real life by glass furniture-makers in Italy, as well as through MicroLED screen technology. Kim also has a strong visions the art being projected, as well. “Everyone should install an LED wall in their house for NFT art.” says the artist. “ This is the future, and Mars House demonstrates the beauty of that possibility.” The owner is in agreement to the following terms and conditions upon purchase of Mars House (hereby referred to as Mars House NFT): The collector agrees to own one copy of Mars House NFT on a single Metaverse platform. The collector is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio Inc. will provide technical support to upload and integrate Mars House NFT on a Metaverse platform. If/when Mars House is resold, the collector is required to delete all Mars House NFT 3D file(s) from his/her Metaverse, and provide verification of deletion to Krista Kim Studio Inc. before new 3D files are transferred to the new owner by the artist. The new owner is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio will send Mars House NFT 3D files directly to the new owner and provide support for Metaverse integration. This verified ownership transfer system will be appointed to Krista Kim Studio Inc. trusteeship, after 40 years of the date of the sale. Krista Kim Studio Inc. retains ownership of Mars House NFT copyright. All rights reserved. All reproductions of Mars House (NFT) in both digital and physical formats, are restricted. Mars House NFT physical furniture pieces, made of tempered printed glass in Italy, may be commissioned by the collector as NFT physical pieces.