Meta announces NFT updates for Instagram

By Ciaran Lyons
June 24, 2022 0

The company behind Facebook and Instagram, Meta, has announced two updates for Instagram users around NFTs that are sure to excite fans of the digital assets.

Meta has already seen success with a handful of Instagram creators sharing their NFTs with their audience and are now expanding their test of digital collectibles to more creators and a handful of additional countries.

“Creators and collectors will be able to share their digital collectibles across Facebook and Instagram after we begin rolling out the feature on Facebook with select US creators at a later date”.

Instagram users can also look forward to NFTs being integrated into Instagram stories soon.

“We’ll also soon start to test NFTs in Instagram stories with SparkAR”

Meta announced these on its website this week, explaining that the company is launching them to further prepare its platforms for the metaverse. “Investing in Web3 technologies and digital collectibles like NFTs is a crucial part of our long-term commitment to creators,” the company said.

This announcement comes after Mark Zuckerberg posted a status on Facebook on 21st June sharing with his audience that Meta would be providing “updates that will help creators build for the metaverse”.

Meta said that there will be no fees associated with posting or sharing a digital collectible on Instagram, and addressed the sustainability issue that many have with NFTs, saying that the company is “helping to reduce the emissions impact that might be associated with digital collectibles by purchasing renewable energy.”


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