Instagram, the social media platform owned by Meta, plans to support non-fungible tokens (NFTs) for crypto art from several blockchain networks, with the pilot project happening as soon as Monday, CoinDesk reports.
See related article: Bored Apes Instagram hack nets millions in stolen NFTs
Fast facts
- Instagram will allow users to post and share NFTs from Ethereum, Polygon, Solana and Flow blockchains, the networks that host the vast majority of trading in digital collectibles.
- Ethereum and its Bored Apes lead in NFT market capitalization.
- Instagram will not charge its users for posting and sharing NFTs, as Twitter initially did for its hexagonal NFT profile pictures in January.
- Meta CEO Mark Zuckerberg had confirmed that NFTs were coming to Instagram while speaking at the SXSW festival in Texas in March.
- Instagram, which has more than 1 billion monthly active users, intends to support widely used crypto wallets, such as MetaMask.
See related article: Top 5 NFT trends to watch in 2022
