Meta CEO Mark Zuckerberg announced today the company is beginning its international expansion of NFT support on Instagram. The expansion follows on the heels of the social network's initial test launch last May for its NFT support. As a result of this move, users and businesses from over 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas will now be able to share their NFTs on Instagram. Earlier, it was available only to a handful of creators in the United States.
Coinbase also said today that it's now also adding Coinbase Wallet and Dapper Wallet as a third-party wallet that's usable. The application is also expanding its supporting blockchains to include Flow.
It also means one can connect their wallet and share NFTs, automatically tagging both the creator and the collector for attribution. People can share NFTs in their Instagram Feed, in Stories or in messages. When a digital collectible is posted, it will have a shimmer effect and users can then share information about it, such as a description of the NFT.
To post a digital collectible on Instagram you must link up with a digital wallet to Instagram. So far, Instagram supports connections to third-party wallets: Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet. Supported blockchains are Ethereum, Polygon, and Flow. According to the social network, posting and sharing a digital collectible on Instagram comes without any fees.
Earlier this year, Zuckerberg said Meta is going to work on augmented reality NFTs-or 3D NFTs that you can bring to Instagram Stories using Spark AR, which happens to be the company's software AR platform. The company is announcing today, starting to allow people to share and display their digital collectibles in AR stickers in Instagram stories.
Meta said that today's expansion represents its work expanding access to web3 technology through NFTs and supporting creators looking to monetize work and build community with collectors and fans.
"We recognize that blockchain technology and NFTs prompt important questions about sustainability," the firm said in a release when it launched its first NFT test earlier this year. "Meta will offset the carbon impact that may be associated with the display of digital collectibles on Instagram by purchasing renewable energy.".
Instagram expansion follows weeks after Meta started NFT testing on Facebook with chosen creators. That's because the company said that it will not, at its discretion allow digital collectible posts to be turned into advertisements.
This announcement comes weeks after Twitter allowed users NFT profile pictures at the beginning of this year. Instagram and Twitter, therefore are two of the digital powers flirting with NFTs. YouTube CEO Susan Wojcicki claimed the firm may incorporate web3 technologies, such as NFTs, in the profile pictures of the platform to help YouTube creators make money. Additionally, Reddit recently rolled out a new NFT-based avatar marketplace, which now allows users to buy blockchain-based profile pictures at a set fee.