Instagram, the Meta-owned social networking platform, will allow non-fungible tokens (NFTs) for crypto art from many major blockchain networks, with a pilot announcement on Monday, according to the report.
As per the report, Polygon, Flow, Solana, and Ethereum, which handle the majority of virtual collectibles trading, are in queue for Insta NFT integration. However, it was unknown whether all four chains of non-fungible tokens would be allowed in the release, according to the report.
As per the report, users will not have to pay any fee for publishing and sharing NFTs on Insta, like Twitter, did for its hexagonal NFT profile images in January.
Instagram plans to enable popular cryptocurrency wallets such as MetaMask. Members will be able to confirm NFT ownership, post them on their accounts, and tag the artists who created them by connecting to their crypto wallets.
Instagram CEO Adam Mosseri announced in December that the social media giant was “actively exploring NFTs,” but gave no further details.
Two months earlier, in a conference South by Southwest Meta CEO Mark Zuckerberg stated that NFTs would be arriving to Insta as per a previous report by the Financial Times.
Meta would follow up its NFT experiment on Instagram with minting and group membership possibilities on Facebook according to the Financial Times.
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