Meta has announced that content creators will soon be able to create and sell NFTs to their fans. They will have access to all the necessary tools, from creating an NFT to selling it. Thus, Instagram will compete with the existing NFT markets.
Meta is gradually increasing support for NFTs. Irreplaceable icons Which is based on the “biggest lie theory” according to Bill Gates It can be created and sold directly on Instagram soon. This feature will be reserved for content creators so that their community can purchase unique digital items. Thus, Instagram the account Compete with existing NFT markets.
NFTs created with Instagram can be sold on or off the platform. Meta explained that the creator will have ” A to Z toolbox, from creation (from polygon Blockchain) to display and sale Currently this feature is only available for A select group of users in the United States.
Instagram wants to create its own NFT market
This isn’t the first time NFTs have come to Instagram. In fact, Meta has already done many tests on FB and Instagram since last year. Users can Presenting their collection of digital itemsbut no transactions or creations were possible so far.
Furthermore, Meta confirmed that he will not take No commission on NFT sales until 2024. However, 30% of sales will be deducted to support the App Store fee. Creators will also be able to set their commission rate on reselling their NFTs. This rate may vary from 5 to 25%.
Meta also announced other NFT news on Instagram. The platform is now supported Solana Blockchain and Phantom Wallet. The company also said Information for certain groups whose metadata has been enriched by OpenSea, such as group name and descriptions, will now be available on Instagram “.
With all these new features, Instagram which recently had a major glitch with many suspended accounts Went away Simple sharing of photos and videos. It is increasingly becoming an entertainment platform on which content creators must generate money, whether from advertising revenue or through the sale of NFTs.
source : Engadget