Instagram to add support for NFTs based on Ethereum and other blockchains
The social network will not charge for posting non-fungible tokens
09.05.2022 - 08:10
520
2 min
0
What’s new? Social network Instagram, owned by Meta (recognized as extremist and banned within the Russian Federation), will add support for NFTs based on Ethereum, Polygon, Solana, and Flow blockchains. Large crypto wallets such as MetaMask will be used to tie non-fungible tokens to the social network, CoinDesk reports. Instagram will not charge for posting NFTs.
What else is known about the future feature? Several collectors from the US will be participating in the test launch. It is not yet known if the social network will support all four blockchains immediately after launch. Meta CEO Mark Zuckerberg announced the integration of NFTs into Instagram back in March 2022 but never gave an exact timeline for the project.
What happened before? In January 2022, Twitter provided the ability to set an NFT as a profile picture. The feature is available to subscribers of the premium Twitter Blue service. The token integration was implemented based on OpenSea’s NFT marketplace API.
Meta also reported plans to create its own trading platform for non-fungible tokens. According to the company, the new features will allow users to issue and sell NFTs on Facebook and Instagram.
Learn how to create your own NFT and choose a marketplace in GetBlock Magazine’s article.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 217
BTC
+3.39%
-
Ethereum
$3 337.04
ETH
+7.91%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.26
XRP
+13.74%
-
Dogecoin
$0.38479
DOGE
-0.18%
-
Cardano
$0.818609
ADA
+1.68%
-
Bitcoin Cash
$488.17
BCH
+8.63%
-
Polkadot
$5.9
DOT
+2.38%
-
Stellar XLM
$0.273677
XLM
+12.52%
-
Litecoin
$88.99
LTC
+5.55%