Instagram To Soon Support NFTs on Ethereum, Polygon, Solana and Flow

Ethereum World News
Ethereum World News May 8, 2022
Updated 2022/05/08 at 12:34 PM
2 Min Read

Summary:

  • Meta’s Instagram will soon support NFTs on Ethereum, Polygon, Solana, and Flow
  • Users of Instagram will not be charged to exhibit their NFTs on the platform
  • A pilot program for NFTs on Instagram will be launched in the United States possibly by Monday
  • Instagram will also support popular crypto wallets such as Metamask

Instagram, the photo and video-sharing social media platform by Meta, is said to soon start supporting NFTs created on the blockchain networks of Ethereum, Polygon, Solana, and Flow. Furthermore, users of Instagram will not be charged to exhibit their art on the platform. The social media platform will also support popular crypto wallets such as Metamask.

According to sources, a pilot program for the NFTs is rumored to be announced as early as Monday and will feature a small group of ‘NFT aficionados based in the US.’ Clarification is yet to be provided regarding whether the pilot program will support all the chains mentioned above.

Instagram Plans Not to Charge NFT Creators to Showcase Their Creations

News of Instagram allowing NFT creators to showcase their art on Instagram without charging brings some type of relief, given that Meta plans to charge 47.5% on sales of digital assets and experiences inside its virtual reality platform of Horizon Worlds.

Mark Zukerberg Had Hinted NFTs Were Coming to Instagram

The possibility of Instagram supporting NFTs comes less than two months after Meta’s CEO, Mark Zukerberg, mentioned that the platform would feature digital collectibles in the near future. Mr. Zukerberg hinted at this possibility during a conversation with Shark Tank’s Daymond John, where he stated the following:

We are working on bringing NFTs to Instagram in the near term. I’m not ready to announce exactly what that’s going to be today, but, over the next several months, the ability to bring some of your NFTs in, and hopefully over time be able to mint things within that environment.

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