From memes to NFTs: Instagram to test sharing of digital collectibles from this week

Instagram creators will be able to post and share Non-Fungible Tokens (NFTs) – that they have made or bought – on the social media platform, from this week.

These digital collectibles can be shared on a user's main Instagram feed, on their stories or in messages, the head of Instagram has announced.

Adam Mosseri said that Instagram will be testing the feature with a small audience but the company plans to roll out more functionality related to NFTs in the future once it gets feedback from its initial testing.

He added that there will be no fees associated with sharing or posting a digital collectible.

At launch, the supported blockchains for showcasing NFTs on Instagram are Ethereum and Polygon, with support for Flow and Solana coming soon. The third-party wallets compatible for use at launch will include Rainbow, MetaMask, and Trust Wallet.

In another announcement, Meta CEO Mark Zuckerberg said that similar features will soon roll out on Facebook and other Meta platforms.

He also said that Meta will on augmented reality NFTs which a creator can bring to Instagram stories using Spark AR which is the tech giant's augmented reality platform.

ALSO READ:

• Why Dubai promises to be the hub of the metaverse

• Understanding the metaverse: How will it affect life, business in UAE?

• Dubai