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.
- 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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