Every day, artists around the world inspire people and advance culture. With the amazing potential of blockchain technology, they can now use new tools to generate income, and fans can support their favourite creators by buying digital collectables as non-fungible tokens, such as art, photographs and videos, music, or trading cards (NFTs).
Emerging innovations, such as NFTs, are being used by creators to gain more control over their output, their interactions with their audience, and their monetization options. Today, Meta announced that anyone using Facebook or Instagram in the US can connect their wallets and share their digital valuables.
People will be able to display their digital collectables on both Facebook and Instagram in this way. It will enable any Instagram user in the 100 countries where the platform offers digital collectables to access the service.
According to the Meta, they have started a global expansion across Africa, Asia-Pacific, the Middle East, and the Americas.
Additionally, users can now upload digital collectables created on the Flow blockchain and offer wallet connections with the Coinbase Wallet and Dapper. A user only needs to link their digital wallet to Instagram in order to post a digital collectable.
Currently supported blockchains are Flow, Polygon, and Ethereum.
Meta won’t charge any additional fees to share or upload a digital collectable on Instagram.
The company also said that they will be using “open blockchains,” like the Ethereum blockchain to “collect and organize” public data.
Meta was facing increasing competition with short-video platform TikTok– that is when CEO Mark Zuckerberg originally said that the firm will be testing out NFTs on Facebook and Instagram.