Meta announced in May 2022 that it would be rolling out NFT support on Instagram to a select group of creators in the United States. In July 2022, the company expanded the feature to creators in 50 other countries. And on August 30, 2022, Meta announced that it would be rolling out NFT support to all users in 100 countries.
This means that users in these countries will be able to create, buy, and sell NFTs on Instagram. To do so, they will need to connect their crypto wallets to Instagram. Currently, Meta supports the following wallets:
- Trust Wallet
- Coinbase Wallet
- Dapper Wallet
NFTs are digital assets that are stored on the blockchain. They can represent anything from art to music to videos. When you buy an NFT, you are essentially buying a unique digital token that represents ownership of that asset.
Meta’s decision to roll out NFT support on Instagram is seen by some as a way to tap into the growing popularity of NFTs. However, others have criticized the move, saying that it is a way for Meta to profit from the environmental impact of NFTs.
Only time will tell whether Meta’s NFT experiment will be successful. However, it is clear that the company is betting big on NFTs as a way to future-proof its business.