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HomeNFTMeta now supports NFT on Instagram in 100 countries

Meta now supports NFT on Instagram in 100 countries

Facebook’s parent company, Meta, declared on August 4 that the firm had begun an “NFT global expansion to 100 nations on Instagram.” The company also disclosed connections with specialised Web3 wallets which enable the Flow, Polygon, and Ethereum blockchains.

NFT support for Instagram links to third party Web3 wallets: Meta

In the August 4 blog post, published on its official website, Meta revealed that the Instagram-hosted digital collectables functionality will be rolled out in 100 countries. Meta stated that the distribution will start in places including the Americas, the Middle East, Pacific Asia, and Africa.

As per the official blog post, the company will also offer Coinbase Wallet and Dapper wallet integration and the option to transfer virtual artefacts made on the Flow blockchain.

The news follows Meta’s Q2 2022 dismal quarterly earnings report and a deficit for the firm’s metaverse division. On July 30, the co-founder of Ethereum also criticised corporate metaverse efforts and asserted that anything Facebook develops right now would flop.

No cost on upload of NFT on Instagram: Meta

According to Meta, there are no expenses related to uploading or promoting a digital collection on Instagram, in terms of Instagram’s non-fungible token (NFT) launch. The business also stated that it enables links with third-party wallets, including those from Rainbow, Metamask, Coinbase Wallet, Trust Wallet, and Dapper Wallet.

The capability would include linking a digital wallet, dispersing digital valuables, and instantly designating the creator and collector, as per Meta’s blog.

Last year, Meta brought NFTs to Instagram in response to Instagram CEO Adam Mosseri’s announcement that the social networking site would incorporate the technology. However, in mid-March 2022, Mark Zuckerberg, CEO of Meta, stated that Instagram would be integrating NFTs onto the platform in the near future.

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