Global social media giant Meta, parent of Facebook, Instagram and WhatsApp, has announced it would expand the NFT feature on Instagram to creators in 100 countries in Africa, Asia Pacific, the Middle East, and the Americas.However, it did not comment about rollout plans of the feature to Instagram users in Europe. The company rolled out the feature for its US users in May as a test initiative.
The NFT feature on Instagram allows users to connect a digital wallet, share NFT and automatically tag both the creator and collector for attribution. Facebook founder and Meta chief Mark Zuckerberg also posted a “soon-to-be-NFT” of his old Little League Baseball Card on Instagram “in honor” of the expansion.
The NFT-related posts will also be visible on the creator or collector’s profile, Instagram said. The creator or collector can be automatically attributed in the digital collectible post, subject to their respective privacy settings.
Meta also plans to explore additional NFT-related features on Instagram, as well as rolling out similar features to its sister platform, Facebook over the coming months to provide further benefits to creators and collectors.
According to a statement issued by Meta, the aim was to improve accessibility and help make the NFT space more inclusive to all communities by reducing the barriers to entry and ensuring that this technology was safe and approachable.
“It is critical that our early efforts in this space empower diverse voices and that under-represented groups have access to emerging digital assets like NFT”, the Instagram statement said.
Meta also acknowledged the importance of the Instagram platform being a safe and enjoyable place for everyone. To that effect, it will enable users to use the tools within Instagram to keep their accounts secure and report NFT that go against Instagram’s community guidelines.
The company has also announced new integration of Instagram with Coinbase and Dapper wallets, in addition to the existing integrations with Rainbow, MetaMask and Trust wallets. Creators may also post NFT minted on the Flow, Ethereum and Polygon blockchains.
Instagram would collect and organize public data from open blockchains. Using this data, it would identify which NFT belong to collectors and creators when they connect their third-party wallets to Instagram. There will be no fees associated with posting or sharing a digital collectible on Instagram, the company said in a statement.
Meta is exploring a wide range of Web 3.0 technologies to expand access, reduce costs and accelerate innovation, while empowering people and creators from around the world, it said in the statement.Instagram has also launched an initiative to educate the broader audiences in the space through its “NFTeach Me” series, it said.
Earlier, Meta said that, as the company was embarking on this new area of investment, it planned to roll out digital collectible or NFT features on Facebook and allow people to display and share their digital collectibles as AR stickers in Instagram Stories.
Additionally, since blockchain technology and NFT raise important questions about sustainability, Meta will help reduce the emissions impact that might be associated with the display of NFT on Instagram by purchasing renewable energy. To that extent, it has committed to reaching net zero emissions across its value chain by 2030 and accelerate its renewable energy transition.
“The possibilities our technology will unlock for people only matter if we have a safe and thriving planet”, Zuckerberg said. According to the company, it was collaborating with community members, climate action leaders and scientists as well as leveraging its core products and services to enable access to climate science information.