Instagram to support Ethereum, Polygon, Solana, and Flow

Instagram to allow users to display NFTs supported by the Ethereum, Solana, Polygon, and Flow Blockchain.

A trial will be held, with just a select group of NFTs enthusiasts from the United States participating.

CEO of Instagram’s Mother Company Meta, Mark Zuckerberg, already gave a hint about the incoming development earlier this year.

Instagram would not charge users for uploading and sharing NFTs.

Instagram intends to enable popular cryptocurrency wallets such as MetaMask.




Instagram allows NFT Display

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Instagram will now allow users to display NFTs from some of the most well-known blockchain art networks. This network includes Ethereum, Solana, Polygon, and Flow. The Social media company owned by the company Meta Inc. has made this know according to a report by Coindesk that it is exploring NFT implementations for these Four Blockchains, Because these networks contain the great bulk of trading in digital collectibles with Ethereum and its Bored Apes leading the way by market capitalization.

Along with this development was the news of a trial exercise to take place on Monday, 8 May 2022 with just a select group of NFTs enthusiasts from the United States participating. According to Coindesk, it is not certain if the four blockchains would support NFTs during the launch. However, this innovation would promote the awareness of NFTs among Instagram's approximately one billion monthly active users.


Meta Inc and their Plans for NFTs

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Mark Zuckerberg and his company Meta have taken a major forward step toward the blockchain, NFTs, and the Metaverse, believing to champion the quest for the new Virtual world. Mark First disclosed in March at the South by Southwest conference in Austin, Texas, where he told Daymon John Shark Tank that Meta is working on introducing NFTs to Instagram in the near term. At the conference, he started

“We are working on bringing NFTs to Instagram in the near term. I’m not ready to announce exactly what that’s going to be today, but, over the next several months, the ability to bring some of your NFTs in, and hopefully over time be able to mint things within that environment.”

Instagram's parent company, Meta, has also announced other ambitions, like enabling minting and group memberships later this year to take advantage of blockchain technology. In addition, the business will release augmented reality NFTs, also known as "3D NFTs," that will show as stickers on Instagram Stories. Meta is also said to be working on a virtual currency dubbed Zuck Bucks, according to reports.



Instagram’s Plan for the Integration

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Unlike Twitter, which made its NFT hexagonal profile image verification function initially a sub_script_ion service, CoinDesk has reported that Instagram will not charge users for displaying their NFTs.

Instagram also wants to enable cryptocurrency wallets like MetaMask, allowing users to prove ownership of NFTs, display them on their accounts, and tag the creators who created them. All these came some two months after Mark Zuckerberg’s hint in a talk earlier this year.


Conclusion

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Instagram's move for accepting NFTs aligns with the parent company’s goal of integrating a virtual world called metaverse. It would also plan an enormous part in creating more awareness for NFTs, as well as helping content creators thrive and benefit more from Blockchain technology.



Author: Gate.io Observer: M. Olatunji
* This article represents only the views of the observers and does not constitute any investment suggestions.
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