Despite the collapse of the non-fungible token (NFT) market, Instagram is continuing to invest in digital collectibles. The app is bringing its NFT capabilities to more than 100 nations in Africa, Asia-Pacific, the Middle East, and the Americas following a test launch in May.
Users of Instagram can use NFTs as augmented reality stickers in Stories as well as in their feed and messages. For attribution, NFT producers and collectors are automatically marked. Although you can’t yet purchase or sell NFTs on Instagram, Meta has made it clear that it’s developing a market place.
In addition to Rainbow, MetaMask, and Trust Wallet, Instagram now accepts third-party wallets from Coinbase and Dapper. It will support Flow together with Ethereum and Polygon blockchains.
CEO of Meta Mark Zuckerberg announced the expansion in an Instagram post, of all places. He uploaded images of a baseball card he had created for Little League as a youngster. Young Zuckerberg gave it to Allie Tarantino, his favorite camp counselor, who now intends to sell both the autographed card and an associated NFT. According to Tarantino, who spoke to the Associated Press, “On the back of his card, he put a .920 batting average — which is like impossible in baseball,” So, even as a young child, he set high goals.