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
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.
How the largest cryptocurrency exchange’s initiatives help it maintain its leadership
Nov 19, 2022
What fan coins are needed for and what events contribute to their growth
Nov 16, 2022
Why Binance set the trend to publish transparent data on available funds
Nov 14, 2022
The journalists got acquainted with the documents revealing the details of the financial condition of the exchange
Nov 13, 2022
Desperate traders with stuck assets resort to semi-legal schemes to save deposits
Nov 11, 2022
What led to the lightning collapse of the exchange, and how events will unfold in the future
Nov 9, 2022