Sources: Instagram will launch an NFT pilot, with Ether, Polygon, Solana, and Flow integrations, on Monday in the US and will not charge users for sharing NFTs
NFTs from some of the most popular blockchain networks for crypto art are coming to Instagram with the announcement of a pilot …
The initial choice to support Ether, Polygon, Solana, and Flow makes Instagram a distribution surface for several crypto-art ecosystems rather than a single-chain feature. Its no-fee sharing stance lowers the immediate friction for creators testing the format.
First-order effects
US Instagram users with NFTs on the four supported networks can display them without a platform charge, while the supported chains gain access to Instagram’s creator audience.
Instagram must support wallet and collectible presentation across four distinct blockchain ecosystems from the start, rather than limiting the pilot to one network.
Facebook’s subsequent adoption makes cross-app sharing a distribution advantage for creators whose collectibles are supported by Meta’s integrations.
Third-order effects
If social platforms continue to pair collectible display with creator sales tools, NFT infrastructure providers will compete increasingly on access to large social distribution networks, not only on marketplace activity.
Meta’s progression from a US pilot to wider sharing suggests digital collectibles were being tested as a social-identity feature before being positioned as a creator monetization product.
The trend: Social platforms are moving digital collectibles from standalone crypto marketplaces into creator profiles, cross-app sharing, and eventually native selling tools.
Instagram is adding the NFT Display feature, increasing the global prominence of #NFTs. Web2 is making inroads into Web3.🧐 https://www.coindesk.com/...
On average, only 42k unique wallets buy an NFT of any sort on a given day. And only 360k total unique wallets have ever held an NFT as of January 2022. Safe to say, those massively successful NFT projects you've heard about are owned by the same 10-50k people (combined). 🧵 https:…
@0xEthanDG What's the significance? I can see why they're important for users in general but don't see how or why people would care nft verification specifically. What's the benefit? Besides it being an easier way to confirm it's theirs
Friendly reminder that they don't support the movement, they were just pinned into a corner and forced to adapt. That's how adoption works. Zuck is still a cuck and I don't trust him. He just likes money. Regardless: NFTs are one step closer to becoming mainstream.
Twitter had first mover advantage. Seems the competition needs to play catch-up. It's funny. @instagram has been notorious for banning crypto related ads/accounts on their platforms. A tad hypocritical... but we move. https://twitter.com/...
With over one billion monthly active users, this initiative by Instagram will bring new cultural visibility to #NFT. Another massive shot in the arm for the fast growing #decentralized #CreatorEconomy - we'll be watching this space very closely for sure! https://www.coindesk.com/…
@0xEthanDG So basically they want you to expose your address and NFTs to social media giants which either runs crypto targeted ads in future or maintain your data which mostly shared with institutions/govt. In return they frame your pfp from round to some shape. That's huge!🫡👏
welp - @instagram is about to support NFTs. The slow push toward mainstream adoption is here... I honestly feel like this move is one of, if not the biggest move toward NFT music. You ready anon?
Instagram to begin supporting NFTs from ETH, Polygon, Solana, Flow, allowing users to verify ownership through connecting their wallets If there's one thing we know about Meta it's that they love to take ideas from other platforms. Catch Mark innovating with octagonal PFP's
IG planning on trialing NFTs perhaps as soon as Monday across a few chains, but no support for Tezos, where the majority of digital artists already are minting/collecting. 🥲 https://www.coindesk.com/...
NFTs on Ethereum, Polygon, Solana, & Flow are about to hit Instagram. Of all four, I honestly think Flow might have the most immediate impact for normies. Ethereum NFTs are largely out of reach by cost, and Flow has a lot of easily marketed collectibles. https://www.coindesk.com/…
At long last Zuckerberg is embracing web3 instead of trying to own it. Meta's Instagram to Support NFTs From Ethereum, Polygon, Solana, Flow. https://www.coindesk.com/...
Instagram looks like it's going to try to run the 2012 Twitter Cards playbook but likely more surgical and targeted at influencers. Still same plan - let us give you a better way to show off your jpegs. Probably more likely to work than people here think, including me. https://tw…
BREAKING: Meta's Instagram intends to support NFTs from Ethereum, Polygon, Solana and Flow. The announcement of the pilot could come as soon as Monday. @realDannyNelson reports https://www.coindesk.com/...