Meta will start testing Digital Collectibles on Instagram this week
NFT — Meta CEO Mark Zuckerberg recently confirmed that the company will start testing Digital Collectibles on Instagram this week, with “similar functionality” coming soon to Facebook.
According to Mark, Meta will start testing Digital Collectibles on Instagram so NFT creators and collectors can display their non-fungible tokens on their profile.
“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,” Mark said.
NFT details are displayed in a similar way to tagged products and profiles and are named “digital collectibles”. Clicking on the tag will display details like the name of the owner and creator.
Mosseri also said that the test is small to start so that Instagram can learn from the community.
READ ALSO: Twitter Intros NFT Profile Pictures
In an attempt to tackle distrust of a major social networking platform jumping into non-fungible tokens, Mosseri brings up a tension between large companies and the decentralized ethos of Web3.
“I want to acknowledge upfront that NFTs and blockchain technologies and Web3 more broadly are all about distributing trust, distributing power,” says Mosseri. “But Instagram is fundamentally a centralized platform, so there’s a tension there.”
Mosseri also emphasizes that support for non-fungible tokens on Instagram could help introduce the technology to a broader range of people.
NFTs on Instagram 🎉
— Adam Mosseri (@mosseri) May 9, 2022
This week we’re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.
See you next week! ✌🏼 pic.twitter.com/VuJbMVSBDr
Meta spokesperson Christine Pai said that NFTs minted on the Polygon and Ethereum blockchains will be supported initially, with Flow and Solana coming soon. You can visit this link for more information about Instagram’s “Digital Collectibles”.
Instagram wasn’t the first platform to do so. Last January, Twitter introduced NFTs on the platform as hexagon-shaped profile pictures.
Thank you for visiting Newspapers.ph. You may express your reactions or thoughts in the comments section. Also, you may follow us on Facebook as well.
