Instagram is expanding its non-fungible token (NFT) features to more than 100 countries as well as launching new integrations with Coinbase and Dapper.
While the NFT market is now almost completely collapsed , Instagram, through its parent company Meta, continues to support digital collectibles. The announcement of the NFT expansion comes courtesy of Meta CEO Mark Zuckerberg, who posted a photo of a childhood little league baseball card with the additional information.
This baseball card will be made into an NFT. It is also being sold at ComicConnect
Originally revealed in May by Zuckerberg, the support for NFTs is part of his company’s push to the metaverse.
“We are starting to build for NFTs in both our metaverse, Reality Labs work and across our family apps,” Zuckerberg stated at that time. We’re testing digital collectibles for creators and collectors to display their NFTs
The company claims that the main purpose of integrating NFTs into its apps is to let fans support favorite creators through digital collectibles. After Zuckerberg’s original announcement, Instagram quickly followed up with a screenshot of what NFTs would look like on the platform and the announcement that it would be testing the feature in select markets.
“The creator economy is incredibly important to Instagram,” Instagram head Adam Mosseri said back in May. “But one of the challenging things that we need to solve as an industry is how to help creators make a living doing what they love. There are many ways creators can make money, but many of these are unstable and change rapidly. Now we think one really interesting opportunity for a subset of creators is NFTs.”
That test is now expanding to over 100 markets and Instagram is also adding support for third-party wallets from Coinbase and Dapper, which add to Rainbow, MetaMask, and Trust Wallet. Both the Ethereum and Polygon blockchains were supported in the test, but Engadget reports Flow is now also supported.