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Major social media platform Meta announced the support of non-fungible tokens (NFTs) for Instagram creators and businesses in additional 100 countries while also integrating with the Flow blockchain, Coinbase Wallet, and dapper.
- According to an updated blog post on Thursday (August 4, 2022), Instagram users in 100 countries in the Asia- Pacific, Africa, the Americas, and the Middle East, will be able to showcase their digital collectibles.
- The latest development follows an earlier test conducted in May 2022. Meanwhile, posting and sharing of NFTs on Instagram come with zero fees.
- In addition, Meta revealed that the platform will support specific wallets and blockchains. An excerpt from the announcement reads:
“As of today, we support connections with third-party wallets, including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet coming soon. Supported blockchains at this time include Ethereum, Polygon, and Flow.”
- Following the support for NFTs running on the Flow blockchain, the FLOW token soared by 40%. The announcement is the latest from Meta in its efforts to carve a significant footprint in the emerging metaverse market.
- As previously reported by CryptoPotato, Meta said in July that users will soon be able to display NFTs on Facebook. Meanwhile, Ethereum co-creator Vitalik Buterin has stated that corporations creating metaverse projects are going nowhere.