With the announcement of a trial starting as soon as Monday, non-fungible tokens from some of the most well-known blockchain networks for crypto art will be available on Instagram.
According to information obtained by CoinDesk, the social media giant owned by Meta is preparing NFT interfaces for Flow, Polygon, Solana, and Ethereum. The vast majority of digital collectible trading takes place on those networks, with Ethereum and its Bored Apes topping the pack in terms of market cap.
A small number of NFT enthusiasts from the United States will be featured in the pilot. If Instagram would initially support NFTs from all four chains was not immediately known.
Instagram plans to enable well-known cryptocurrency wallets like MetaMask. Users will be able to display NFTs on their accounts, confirm ownership of them, and identify the producers by plugging in their wallets.
In contrast to what Twitter (TWTR) first charged for its hexagonal NFT profile images in January, CoinDesk has confirmed that Instagram would not charge users for posting and sharing NFTs.
The choice will probably result in a sudden increase in NFTs’ cultural visibility. Over one billion people use Instagram each month, many of whom use it to advertise and market their works of art.
Mark Zuckerberg, the CEO of Facebook (FB), previewed the plan in March without providing many details.
Prior to this, The Financial Times claimed that Meta would expand its NFT trial on Instagram to include minting and group membership possibilities.
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