Mark Zuckerberg says Meta will start letting some US creators test digital collectibles and NFTs on Instagram this week, and won't charge for sharing NFTs
Meta is starting with a limited creator test, but related coverage shows the company was already broadening Instagram and Facebook creator monetization through a brand-discovery marketplace on Instagram. The NFT feature adds a new type of creator-owned item to that commercial toolkit.
The pilot also became the first step in a wider distribution path: Meta later [[a:983378|expanded digital-collectible sharing to Facebook users in the US and Instagram users in 100 countries]] and then tested creator tools for minting and selling NFTs.
First-order effects
Selected US Instagram creators can display digital collectibles without a Meta sharing fee, lowering the immediate cost of testing the format.
Meta gains creator feedback and usage data from the limited rollout before committing the feature to its wider Instagram or Facebook audiences.
Second-order effects
Instagram's brand and creator marketplace has another potential asset type to organize around, as creators that use collectibles can pair audience-building with future commercial activity on the platform.
The no-fee sharing policy puts the initial focus on distribution rather than transaction revenue, while Meta tests whether creators adopt collectibles as part of their existing Instagram presence.
Third-order effects
Meta's subsequent minting and selling toolkit indicates a broader shift from social platforms merely hosting creator content toward supplying the infrastructure for creators to issue and sell digital goods.
If these features scale across Meta's apps, control over creator discovery, distribution, and commerce becomes more integrated within the platform rather than relying solely on outside NFT marketplaces.
The trend: Social platforms are extending creator monetization from sponsorship and content discovery into platform-supported digital goods and transaction tools.
NFTs on Instagram 🎉 This week we're beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG. See you next week! ✌🏼 https:/…
Mark Zuckerberg just announced that we're testing digital collectibles for creators and collectors to showcase NFTs on Instagram. NFTs allow creators to take control over their work, fanbase and income. Oh and they ✨shimmer✨ https://www.facebook.com/... https://twitter.com/...
Looking to flaunt your NFT collection on @Instagram? @Meta launches digital collectibles #poweredbyPolygon! Select creators and collectors can now showcase their NFTs to a wider audience. Know more: https://www.facebook.com/... https://twitter.com/...
TODAY I am so excited to announce my partnership with @Meta to have my photos be the FIRST EVER NFTS ON INSTAGRAM! My NFT series, titled ‘Losing my Mind’ will be available as a new kind of IG FEED POSTS starting this Weds 5/11/22. stay tuned
Ok fam it's public: @Meta is making a major foray into Web3, and @0xPolygon will be powering it! 🔥 We have been working with the Meta Web3 team for months; I'm super excited about everything that's coming! Stay tuned, this really can take Web3/Ethereum/Polygon mainstream. 🦄💫 http…
@mosseri IG & FB have made it nearly impossible for emerging artists to reach their fans. Meta will own all assets created for their metaverse AND charge a 47% platform fee. How is that creator friendly? These companies literally destroy creator culture.
I know that NFTs as a piece of kit are here to stay. I don't know that NFTs as house down payments are going to be a widespread thing. https://twitter.com/...
This is amazing news... great work, @bobbyhundreds & @AdamBombSquad! 💣💥 (YT Daddies have far greater reach on IG than Twitter!😉) https://twitter.com/...
Not endorsing NFTs here, but it's great to see Meta approaching NFTs as an open feature rather than the monopolize-and-tax scheme Apple and Google apply to everything. https://twitter.com/...
I welcome Instagram getting into NFTs, because the individual experience of ownership is a stepping stone for users wanting to collectively own & govern networks Once people have the aha moment of realizing they can own something digital, there's no going back https://twitter.com…
NFTs are bullshit, but insome of the research I've read on NFTs, some artists/creators tout NFTs because they say it helps with the ubiquitous problem of artwork theft online, particularly on platforms like Instagram. Will be interesting to follow, for sure. https://twitter.com/.…
Instagram already is the literal fucking worst. It just fits that they also want to become more of a platform to scam people with NFTs. (I love how every Meta company is so slow that they can't even get in on hypes anymore and jump on the horse when it's almost dead) https://twit…
Imagine thinking the biggest problem FB has in engaging with any online community is it being centralised and not it being a deeply untrustworthy, cynical, world-worsening organisation. At least we can all enjoy FBs increasingly desperate attempts to remain relevant, I guess. htt…
The NFT market has been struggling lately, but as Instagram — which has more than 2b MAU — begins to experiment with this technology, this could open a huge gate on the demand side of NFTs https://twitter.com/...
Love that we're continuing to be forward-leaning on #web3 tech. Excited to take another step in that direction by testing digital collectibles on @Instagram, enabling select US creators and collectors to display their NFTs. https://twitter.com/...
Proud of our work with the @instagram team as their @solana wallet partner. This is a huge step for the NFT creator and collector community. Can't wait to share what we've been working on together with the world! https://twitter.com/...