Instagram Taking a Leap Forward in Web3

David Millar

August 5, 2022

The explosive boom of the metaverse has led various mainstream companies and platforms to adopt the trend and become digitally evolved. Facebook was one of these platforms in an attempt to create a social media platform in the metaverse. As a result, the social media giant rebranded as Meta. 

However, the inclusion of NFTs and the metaverse was not limited to Meta. Instagram, the Meta-owned visual content sharing platform, also incorporated an NFT forward strategy. Pertaining to that strategy, Instagram is introducing NFT features to 100 more countries and adding Coinbase wallet and Flow blockchain.

Instagram’s NFT-Enabled Strategy

In July, Instagram started testing the NFT features, which were at the time only available in the US to a limited number of creators. However, upon successful testing, Instagram is releasing this feature to America, Asia Pacific, The Middle East and Africa. The creators can now showcase their NFT collection on their profile using this feature. 

To publish an NFT on their account, the user must connect their accounts to a digital wallet. Currently, the platform supports Ethereum, Polygon, and Flow blockchains and third-party wallets like MetaMask, Trust Wallet, Coinbase Wallet, Rainbow, and Dapper Wallet.

“Every day, creators inspire people and push culture forward around the world. With the incredible opportunity of blockchain technology, they can now leverage new tools to earn income, and fans can support their favorite creators by purchasing digital collectibles – art, images and videos, music, or trading cards – as non-fungible tokens (NFTs),” told Instagram, in an announcement. 

This feature will be an excellent addition to the platform for NFT enthusiasts and digital creators. Instagram can also eventually help creators sell their NFT collections by allowing linking to the marketplaces and letting the creator’s followers directly own these NFTs. 

This development also marks a win for the crypto community as Instagram is one of the largest social media platforms and is now successfully linked to the crypto space.