NFT, or Non-Fungible Token, creators now have a new way of making money on social media with the international expansion of digital collectibles on Instagram (IG), following the initial test launch of the product in May.
Mark Zuckerberg, the founder and chief executive officer of Meta (formerly known as Facebook), announced the launch of the new NFT function through a post on FB. People with an Instagram account in some nations can easily display the NFTs they owned now.
As part of the expansion, more people, creators, and businesses in more than 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas will be able to share their NFTs on IG. This feature allows people to connect a digital wallet, share digital collectibles (NFTs), and automatically tag both a creator and collector for attribution.
The move follows Zuckerberg's recent announcement that NFTs will also be coming to Facebook and other Meta apps, while Twitter and YouTube begin to embrace similar technologies, too. It was finally introduced after a number of testing that consist of several phases in May, which reportedly showed successful results, which led to this official launch.
"Additionally, we now support wallet connections with the Coinbase Wallet and Dapper, as well as the ability to post digital collectibles minted on the Flow blockchain," Meta wrote in a blog post this week.
The company added, "In order to post a digital collectible, all you need to do is connect your digital wallet to Instagram. Supported blockchains at this time include Ethereum, Polygon, and Flow."