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🎮 NFTs are Coming to Instagramby@tanyog
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🎮 NFTs are Coming to Instagram

by The GNovember 3rd, 2022
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Instagram announced that soon, creators would be able to mint and sell NFTs on the platform. As a start, they'll support Polygon and Solana NFTs. This is the second time Instagram and its parent company, Meta, have dabbled in the NFT space.

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The G HackerNoon profile picture

GM.


It's Crypto Player One, the first and only daily newsletter on crypto gaming.


Here's what we've got for you:


  • Daily Trivia.
  • NFTs are coming on IG.
  • In Other News.

Daily Trivia

Who is the creator of the Pac-Man series?


Scroll down to find out the answer.

NFTs Are Coming On Instagram


While the stock market is beating the crap out of Meta's stock price, the company keeps making crypto moves.


Instagram announced that soon, creators would be able to mint and sell NFTs on the platform.


As a start, they'll support Polygon and Solana NFTs.


This is the second time Instagram and its parent company, Meta, have dabbled in the NFT space.


A few months ago, they added a feature allowing users to connect their wallets to IG and show their NFTs.


While girls flex their peaches, crypto degens flex their JPEGs.


With the most recent update, NFT creators can make and sell their own collections on Instagram.


Meta won't charge any fees for displaying, sharing, and selling NFTs on IG or Facebook until at least 2024.


But NFTs sold on the IG mobile app will be subject to the Android and iOS app store fees.


At least, neither collectors nor creators will have to pay gas fees for NFTs bought on IG.


For storing the NFTs, Meta will use Arweave, the decentralized data storage protocol.


Our take:


While Meta might not be the most trusted company, it has billions of users, all of which can soon start creating and trading NFTs.


No matter how you look at it, this is a huge win for mainstream adoption.

In Other News

Game of Thrones NFTs are coming.

VRJam launched a digital platform for virtual concerts and events.

Answer

Toru Iwatani


Also published here.