Instagram expands NFT support globally, launches wallet integrations

Image Source: Instagram (via TechCrunch)

Social media giant Instagram said on Thursday that it’s expanding support for NFTs globally, and also launched digital wallet integrations with Coinbase and Dapper. 

The news arrives three months after Instagram’s Head Adam Mosseri said that the company started testing the ability to share digital collectibles on the platform with select creators in the US. Starting today, the NFT support will be expanded to more than 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas, the company wrote in a blog post

To enable users to share their digital collectibles, Instagram also launched integrations with digital wallets including Coinbase Wallet, Dapper Wallet, Rainbow, MetaMask and Trust Wallet. Currently, it supports Ethereum, Polygon, and Flow blockchains. Meanwhile, the company won’t charge any fees for posting NFTs on the platform.

After sharing a non-fungible token, Instagram will display the ‘Digital Collectible’ badge on your post, which will show the description of the NFT as well as its creator when clicked on. 

To celebrate the global expansion of the support, Meta CEO Mark Zuckerberg shared an old photo of his little league baseball card, which he said would be converted into an NFT soon. 

The parent company Meta also recently started testing NFT’s on Facebook with select users in the United States. However, the company has yet to announce when the global expansion will begin. 

Meanwhile, Meta is not the only social media company working on NFT adaption. Earlier this year, Twitter launched the ability to set NFTs as profile pictures, included in its new paid subscription service named Twitter Blue

In a letter shared in January highlighting the company’s priorities for 2022, YouTube CEO Susan Wojcicki said, ‘’We’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube.”

According to a recent report from Financial Times, Snapchat is also exploring  digital collectibles and getting ready to launch the tests of a new feature to allow users to share NFTs on the platform as Lenses

Written by Maya Robertson

Leave a Reply

Your email address will not be published.

Elon Musk accuses Twitter of fraud in countersuit filed in Delaware

Most mobile game categories see revenue decline in the US in H1 2022