Meta CEO Mark Zuckerberg has confirmed that the company is starting the testing of digital collectibles or non-fungible tokens (NFTs) on Instagram with select creators in the US this week. The decision to introduce digital assets came after the global NFT market saw a downturn. Zuckerberg confirmed the news by sharing a post on his Instagram handle.
https://www.instagram.com/p/CdVp0WKpOcw/
After the testing of NFTs with Instagram, Zuckerberg will soon add “similar functionality” on Facebook, which is the company’s other service. Along with this, he also said that augmented reality NFTs, or 3D NFTs, will also be made available on Instagram stories using Spark AR. Spark Aris is the company’s own software AR platform which will help users to place digital art into physical spaces.
Availability of NFTs on Instagram
Instagram head Adam Mosseri has confirmed that the photo-sharing platform is starting to test NFTs with select creators in the US. He shared a video on his Twitter account confirming the news. Mosseri also noted that users will not have to pay any fees for sharing or posting a digital collectible on Instagram.
Meta in its newsroom shared the information about the testing of digital collectibles or non-fungible tokens (NFTs) on Instagram. The company about some of the features which include:
Connecting a digital wallet
Once the creators will connect to the digital wallets, both creators and collectors have the capability to choose which NFTs they wish to share on Instagram from their wallets.
Sharing digital collectibles
The digital collectible that a creator or collector will post will have a shimmer effect and will be able to display public information that includes a description of the NFT. Along with this, the posts will also be visible on their profile.
Automatic tagging of both the creator and collector
Through this feature, both creator and collector can be attributed automatically in the digital collectible post.
Earlier this month, Instagram was reportedly testing full-screen feed like TikTok.
