Meta to soon launch NFT minting and trading feature on Instagram
Meta has chosen the Polygon blockchain as its initial partner for this functionality.
Mark Zuckerberg led Meta on Thursday officially announced that it is testing and selling Non Fungible Tokens (NFTs) on Instagram. Initially, only select users in the United States will be able to use the NFTs, but the company intends to expand its offering to other countries in the near future.
In its blog post, the firm stated, "Creators will soon be able to make their own digital collectibles on Instagram and sell them to fans, both on and off Instagram. They’ll have an end-to-end toolkit—from creation and showcasing, to selling. People can easily support their favourite creators by buying their digital collectibles directly within Instagram."
The NFTs will be minted on Polygon blockchain, Ryan Watt, CEO of Polygon Studios, took to Twitter to announce the partnership.
Earlier, the firm had announced its collaboration with Ethereum and Flow. In a recent blog post, the firm also stated that it will be adding support for Solana Blockchain and Phantom Wallet. The blog post further stated that "information for select collections where the metadata has been enriched by , such as collection name and descriptions, will now be available on Instagram."
Edited by Megha Reddy