Instagram is introducing digital collectibles to support creators and collectors in showcasing their NFTs on the popular social media platform.
Instagram digital collectibles for NFT creators and collectors
The meta-corporation has begun testing a new digital collector feature, which will allow a select few creators and collectors in the United States to share the NFTs they’ve created or purchased on their Instagram posts and reels. The feature is possible thanks to Instagram which collects and organizes public data from certain open blockchains from which they can identify which collectibles belong to which collectors and creators after connecting their third-party wallets to Instagram.
Instagram Blockchains and Wallets
The supported blockchains at launch are only Ethereum and Polygon, but both Flow and Solana will be supported soon. There are a number of third-party wallets that are compatible for use at launch, including Rainbow, MetaMask, and Trust Wallet. Third-party wallets that will eventually also be compatible include Coinbase Wallet, Dapper, and Phantom.
Instagram says there is no charge for posting or sharing a digital collectible on Instagram. They also emphasized that they want the new digital collectibles feature to amplify different voices and give underrepresented groups access to emerging digital assets such as NFTs.
Leverage new tools to earn revenue and fans
In a statement introducing the digital collectibles on the About Instagram blog, Meta said: “Every day, creators inspire people and stimulate culture around the world. With the incredible opportunity of blockchain technology, they can now leverage new tools to earn revenue, and fans can support their favorite creators by purchasing digital collectibles—art, images and videos, music, or trading cards—as non-fungible tokens (NFTs).Starting this week, select creators and collectors can share their digital collectibles on Instagram.
“Creators are using new technologies such as NFTs to gain greater control over their work, their relationship with their fans and how they can make money. At Meta, we’re looking at what creators are already doing with our technologies to improve the experience, help them create more monetization opportunities, and bring NFTs to a wider audience.”
Meta explained that their support for NFTs focuses on improving accessibility and lowering barriers to entry to the NFT space, making it more inclusive for all communities. They also say they will help reduce the emissions impact associated with displaying digital collectibles on Instagram by purchasing renewable energy.
Features of Instagram Digital Collectibles
The first aspect of the new feature is the ability to connect a digital wallet, which creators and collectors can then access to choose which NFTs from their wallet to share on Instagram.
Creators and collectors can then place a digital collectible, which appears with a special glittering effect. The message may display public information, such as a description of the NFT.
Instagram will also enable automatic tagging of both creator and collector, automatically attributing them to the digital collection post, if their privacy settings allow it.
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