Instagram expands its NFT platform to 100 countries

Instagram’s platform for non-fungible tokens (NFT), also known as “digital collectibles,” is now available in 100 countries, according to the Facebook parent Meta-backed social media giant. 

Fast facts

• Instagram now supports wallets from Rainbow, MetaMask, and Trust Wallet, as well as three blockchains: Ethereum, Polygon, and Flow, thanks to the addition of Coinbase and Dapper support. 

• As promised in May, the expansion does not include the Blockchain Solana and phantom wallets. This week, the two are in the midst of a massive exploit.

• Instagram said the “digital collections” would allow artists to connect and monetize.

• There are over one billion users active on Instagram each month, and many artists use the platform to promote and market their work.

• It was announced in May that Instagram was testing digital collectibles with some creators and collectors, including the ability to share and purchase NFTs. 

• As Meta expands into virtual goods, it launched Meta Avatars in June to offer custom avatars for social media apps like Facebook Messenger and Instagram.

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