Instagram will start testing NFTs in the US this week: all you need to know


Meta CEO Mark Zuckerberg has announced that Instagram will begin testing non-fungible tokens (NFTs) on the platform in the US starting this week. He further added that “similar functionality” will be available on Facebook soon. Instagram head, Adam Mosseri, announced in a video that select users in the US will soon be able to view NFTs in their feeds, stories and messages.

nft on instagram

According to Mosseri, the NFT details will appear on the platform just like tagged profiles and products. They will be named “digital collectibles”. User will see more details like manufacturer and owner name by clicking on the tag. Notably, no fee will be charged for posting or sharing NFTs on Instagram.

To showcase NFTs, the platform currently supports blockchains such as Ethereum and Polygon, and will soon expand its support to Flow and Solana. Instagram supports select third-party digital wallets, including Rainbow, MetaMask and Trust Wallet, and will soon start supporting Coinbase, Dapper, and Phantom.

Since this is an early stage right now, this feature will be available only to select users. However, Mosseri has assured that it will be available to others once feedback is received from the initial test.

According to a statement from Mosseri, “I already want to acknowledge that NFT and Blockchain Technologies and Web3 more broadly are about distributing trust, distributing power. But Instagram is basically a centralized platform, So there is tension there.”

According to a tweet from Instagram’s official account, “This week, we’ll begin testing ways for creators and collectors to share NFTs with a special effect on Instagram. Keep track of digital collectibles from artists like Ocean.”

Instagram post to start testing NFTs in the US this week: All you need to know first appeared on BGR India.

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