Instagram to Integrate NFT on its Platform
Instagram intends to merge non-fungible tokens (NFTs) from top platforms such as Solana, Ethereum Move, and Polygon. The social networking site is expected to reveal a trial program on Monday,9th May 2022.
According to reports, there’s a rumoured focus on a select number of NFT followers in the United States. However, in the test, it’s uncertain whether Instagram will be able to aid NFTs from all networks. Additionally, the platform will not charge clients for showcasing their NFTs on the site.
The pilot was announced over two months after Mark Zuckerberg initially announced that Instagram would use NFTs. In Austin, Zuckerberg told Shark Tank’s Daymon John that Meta is “focused on delivering NFTs to Instagram within the near time frame” during the South by Southwest conference.
Metamask Crypto Wallet will be Supported on Instagram
Also confirmed is that MetaMask, a popular cryptocurrency wallet, will be supported by Instagram. This is critical because users will need to link their wallets to the platform before they can display NFTs on their profile and indicate ownership. They’ll also be able to identify the individuals who came up with the NFTs.
NFT adoption is expected to rise as a result of this integration, which will increase the number of individuals who have access to NFTs. Until recently, Twitter has been the only social media network with NFTs adaptations.
Recently, Reddit ran a test of NFT integration, and YouTube lets its creators explore the many integration choices. On the other hand, Instagram has the potential to introduce NFTs to a brand-new audience of almost one billion active monthly users.
Other blockchain-related initiatives have been unveiled by Instagram’s guardian company, Meta. The company’s decision to rename from Facebook to Meta last year has sparked increased interest in the metaverse.
Meta plans to Launch its Cryptocurrency
Rumours are circulating that Facebook will soon enable users to establish and join groups. Also, Meta plans to launch a digital currency called Zuck Bucks. As a result, it’s been making headlines recently, not just because of its recent crypto-related advancements. Numerous trademark infringements and failing to address crypto fraudsters’ lawsuits may be plaguing Meta’s platforms.