Meta is expanding the types of digital collectibles users can showcase and interact with on Instagram, including buying and selling assets to earn money on the platform.
Earlier this year, Meta launched the ability to showcase or share digital collectibles on Instagram to over 100 countries globally.
Announced at Creator Week 2022, Meta said: "Today, we are expanding those showcasing capabilities on Instagram to more countries across the world, including Australia.
"Creators and collectors of NFTs will be able to connect their digital wallet to Instagram, and post digital collectibles which they have either created or bought."
Meta is also expanding the types of digital collectibles that you can showcase on Instagram to include:
- Adding video or animated NFT display on Instagram
- OpenSea integration that will allow digital collectible asset information on the platform to be displayed on Instagram
- Support for Solana (blockchain) and Phantom (wallet) for digital collectible display
Additionally, information for select collections where the metadata has been enriched by OpenSea, such as collection name and descriptions, will now be available on Instagram.
The blockchains supported for showcasing are Ethereum, Polygon, Flow and Solana. The third-party wallets compatible for use include Rainbow, MetaMask and Trust Wallet, Coinbase Wallet, Dapper and Phantom.
Creators who attended Instagram’s Creator Week were gifted a limited edition NFT as a memento of their experience. In partnership with Culture Vault, artist @mikkapedia created this exclusive NFT token for Meta.
Meta said: "Web3 technologies, such as blockchain, are central to our vision of making the metaverse a reality.
"These technologies are fundamental to many interactions in the metaverse and can advance an economy where people and creators have more control.
"The updates to our NFTs mean that we’re continuing to open up new ways for people to connect with and support their favourite creators. NFTs give people an ownership stake in their favourite creators, empowering creators to build direct relationships with their fans that they can take with them across platforms.
"This kind of interoperability and portability of digital assets is key to our vision of the metaverse."
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