LONDON: Meta, the parent company of Instagram, on Thursday announced the international expansion of its non-fungible token support across its platforms, namely Instagram.
Users from over a hundred countries in Africa, Asia-Pacific, the Middle East and the Americas will now be able to use the new feature, which allows them to share their NFTs on the platform.
“Today we begin our international expansion to 100 countries in Africa, Asia-Pacific, the Middle East and the Americas. Additionally, we now support wallet connections with Coinbase Wallet and Dapper, as well as the ability to post minted digital collectibles to the Flow blockchain,” Meta said in a statement.
The tech giant announced the integration of Coinbase and Dapper, as well as other third-party wallets such as Rainbow, MetaMask, and Trust Wallet, which are required to access and purchase NFT assets.
“To post a digital collectible, all you need to do is connect your digital wallet to Instagram,” the statement continued.
Meta first announced its test launch in May, with the feature initially rolling out to select creators and collectors.
Instagram users can now include NFTs in their feed and posts, as well as augmented reality stickers in Stories. When mined, it reveals information about the creator of the work, as well as the owner of that digital item.
“Every day, creators inspire people and move culture around the world. With the incredible opportunity of blockchain technology, they can now leverage new tools to earn income, and fans can support their favorite creators by purchasing digital collectibles – art, images and videos, music, or trading cards – in the form of non-fungible tokens (NFTs),” Meta highlighted.
Meta CEO Mark Zuckerberg announced the launch of the new feature in an Instagram post featuring a signed baseball card of himself as a child, which will soon become an NFT, he pointed out.
Meta’s move to the NFT marketplace is seen by some as untimely, but experts believe Instagram may soon start monetizing the new feature by introducing its own marketplace.