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Instagram becomes NFT marketplace

Instagram is currently offering selected creators from America the opportunity to create, showcase and sell their own NFTs using an end-to-end toolkit. This feature will soon be rolled out to other countries to help creators build their businesses with digital collectibles on Instagram.

Stephane Kasriel, Head of Commerce and Fintech at Meta, says in a recent blog post that Meta wants to help the creative economy grow and provide them with cross-platform solutions to reach their communities using blockchain technology.

💲 In this way, all NFTs that are created on Instagram are to be transferred straightforwardly to one’s own wallet and can also be sold off the platform.

💲 Above all, the monetisation and handling of the creator’s intellectual property should be facilitated in this way.

💲 Until 2024, Meta does not want to charge any fees for the creation or sale of digital collectibles. Meta will also pay the usual blockchain fees for the buyer for the time being.

💲 The native use of NFTs on Instagram is intended to connect many more people than before with their favourite creators in the NFT market and also in the metaverse.

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