Meta is rolling out its first test phase for NFTs on Instagram this week. The non-fungible tokens could soon also be used in the sister app Facebook.
NFTs are becoming increasingly popular in the network community. No wonder, then, that the big players in social networks are also getting into the digital token business.
This week, Instagram will also start a first test phase for NFTs. Meta boss Mark Zuckerberg confirmed this in a post on Facebook.
How should the test phase for NFTs on Instagram look like?
Instagram wants to enable non-fungible token operation for some creators and collectors this week. They should then be able to present their “digital collectibles” on the platform.
The test phase is initially only for a small group of users from the USA. As Instagram boss Adam Mosseri says in a videothey can then view their NFTs on Instagram in their Feed, Stories and Messages.
NFTs on Instagram 🎉
This week we’re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.
See you next week! ✌🏼 pic.twitter.com/VuJbMVSBDr
– Adam Mosseri (@mosseri) May 9, 2022
There, Instagram then displays the “digital collectibles” in a similar way to tagged profiles or products. Users can then click on this tag and receive more information about the NFTs – such as the names of the creator and the owner.
What does Instagram have to say about the introduction of NFTs?
According to Instagram CEO Adam Mosseri, the network’s entry into the NFT business could help introduce the technology to a wider audience and make it accessible.
The creators and collectors should not incur any fees when posting or sharing the non-fungible tokens. According to Mosseri, Instagram wants to learn from the community with the initially small test.
Initially, Instagram will support NFTs based on the Ethereum and Polygon blockchains. The blockchains Solana and Flow are to follow, quoted The Verge Meta speaker Christine Pai.
What about other social networks when it comes to NFTs?
But Meta is not only making NFT plans for daughter Instagram. Facebook is also set to enter the NFT business soon. Mark Zuckerberg says in his video that “similar features” will soon be available on Facebook.
And Twitter has been involved in NFTs since the beginning. Since January, selected subscribers to the premium offer Twitter Blue in the USA, Canada, Australia and New Zealand have been able to set the technology NFTs as profile pictures.
These then differ in their form from normal profile pictures. Because the NFTs on Twitter are displayed as hexagonal profile pictures. And the hexagon should also appear on Instagram posts with NFTs.