Instagram’s platform for non-fungible tokens (NFT), which the firm is calling “digital collectibles,” is now available in 100 countries, the Facebook parent Meta-backed social media giant said.
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Fast facts
- With support for Coinbase and Dapper wallets added, Instagram now supports wallets from Rainbow, MetaMask and Trust Wallet as well as three blockchains, Ethereum, Polygon, and Flow.
- The expansion doesn’t include the blockchain Solana and Phantom wallet as promised in May. The two are in the whirl of a massive exploit this week.
- Instagram said the “digital collectibles” will open new pathways for artistic connections and monetization.
- Instagram has over 1 billion monthly active users, with plenty of creators using the platform to promote and market their art.
- In May, Instagram started testing digital collectibles with some creators and collectors, including options to share and purchase NFTs.
- Meta is expanding on virtual goods, as it launched virtual fashion store Meta Avatars in June, offering paid custom avatars for its social media apps, including Instagram, Facebook, and Messenger.
See related article: China’s ‘Instagram’ gets into virtual fashion with users strutting NFT clothes