Instagram Expands NFT Functionality to 100 Countries

Briefly-

  • Meta’s Instagram rolls out its NFT functionality to 100 more nations.
  • Also, the social media side added Dapper Wallet and Coinbase Wallet support.
  • User should connect their Instagram accounts to a digital wallet to access NFTs.

Meta’s Instagram has disclosed that 100 more nations will now access its NFT feature, alongside the integration of Dapper Wallet, Flow Blockchain, and Coinbase Wallet. That means rolling the non-fungible token functionality to Instagram users in America, Africa, the Middle East, and the Asia Pacific.

Formerly Facebook, Meta started to experiment with the NFT functionality in July. Meanwhile, only limited creators in the United States previously accessed the feature that allowed IG users to display their NFT collections.

Users should connect a digital wallet to their social media accounts to post a non-fungible token. Instagram currently supports Flow Blockchains, Ethereum, and Polygon, plus 3rd-party wallets such as Dapper Wallet, Rainbow, Coinbase Wallet, Trust Wallet, and MetaMask.

Meanwhile, creators have inspired individuals while pushing culture forward globally. Meanwhile, blockchain technology provides them a tool to leverage new money-making options. Moreover, fans can purchase digital collectibles – art, videos & images, trading cards, or music- as NFTs to support their favorite artists.

Facebook, which deteriorated its public image following multiple data ownership and usage scandals, rebranded to Meta in October 2021, revealing plans to focus on the Metaverse. Also, it introduced Reality Labs, a sector for building hardware and apps for the virtual space.

Meanwhile, the public perception remains skeptical regardless of Meta’s lofty intentions in the virtual reality world. 77% of individuals wanted a decentralized firm, not Meta, to build a Metaverse. Nevertheless, the company showed its dedication to growth with the late trademark application. Meta filed five trademark proposals with the United States Patent & Trademark Office on 13 May, including applications for a cryptocurrency payment network.

The application highlighted offering a financial exchange platform for digital currency trading. Meanwhile, the firm’s recent earnings report indicates that Meta’s Reality Labs lost $2.8 billion in Q2, missing all expectations by analysts.

What are your thoughts about NFTs on Instagram? More fun for social media users? You can comment below.

Disclaimer: NFTs and Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Business Voices content) and the views expressed in these types of posts do not reflect the views of this website. Please read our full disclaimer here.

Leave a Reply