We were waiting for Meta to free Nft creators and allow them to use their Nfts on Instagram and finally, Instagram decided to begin testing Nfts with a few selected US-based Nft creators and artists.
After Mark Zuckerberg change the company name from Facebook to Meta and introduce the new metaverse vision, I and many other Nft enthusiasts are waiting for this new update.
Instagram probably will start slow and implement more features related to Nft world. The social media giant clearly understands blockchain technology and invests in Metaverse and Nfts.
This new update brings big joy and excitement into Nft space. Usually, Nft artists are sharing their work on Twitter and some of them post their work on Instagram but this will change in the future.
If Instagram completely implements this new technology to its platform, it’ll be a huge update for not only Nft artists but also for nft collectors too.
Instagram’s Chief Adam Mosseri announced that “This week Instagram is beginning to test digital collectibles wit US creators who will be able to share Nfts on Instagram and there will be no fees, wow!
“Now I want to acknowledge upfront that NFTs are all about distributing trust, distributing power. But Instagram is fundamentally a centralized platform, so there’s a tension there. So one of the reasons why we’re starting small is so that we can learn from the community, ” he said in a video posted on Twitter.
Also, Zuckerberg wrote in the caption of his post. “Similar functionality is coming to Facebook soon, along with augmented reality NFTs on Instagram Stories via Spark AR so you can place digital art into physical spaces,” he said in the video.
We will See an Nft Marketplace On Instagram
In recent months, Mark Zuckerberg also announced that there will be an Nft marketplace on Instagram and this new testing phase will be the start of something big like Instagram Nft Marketplace.
I believe Meta clearly sees the market share and daily sales volume happening on Opensea, Raribble, or any other Nft marketplace and wants to take a share from this huge money cake.
Hopefully, Instagram will be able to provide users with a broad offering of art, allowing them to purchase and sell NFTs and thereby continuing the development of this technology.
In March Marc Zuckerberg announced that there will be an Nft marketplace in the future Everybody in the Nft community become excited. I discussed this with many other Nft creators on discord channels and they believe this feature will affect the overall growth of the NFT market.
Instagram’s compatibility with NFTs on Ethereum, Polygon, Solana, and Flow will broaden the market for NFTs and increase demand. Also, Instagram will implement digital wallets like Metamask and many others too.
Given the success of popular crypto-collectibles, it was only a matter of time before Instagram came out with support for these digital assets. Designer NFT’s are growing more and more popular by the day, and it makes sense that a big player like Instagram is getting involved as well.
So, the future is bright for the Nft community, if you’re new to this amazing technology, then our Nft Guides can help you to learn Nfts and all the ecosystem behind it.
Nft Giant is created by Nft enthusiasts and focused to help you by growing your knowledge and network by providing valuable content daily basis. If you have any kind of Nft-related questions you can always reach us via our social media channels.
We hope this post brings value, See you in future articles…
