NFTs On Instagram: Meta To Test Ways To Let Users Buy And Sell Tokens

Meta introduced gifts on Instagram, starting with Reels, so that the creators can earn money from their followers.

Meta has expanded the list of digital collectibles that users can showcase on Instagram to include videos.

Source : Meta

Meta has announced that it will test ways to buy and sell non-fungible tokens (NFTs) to fans and collectors both on and off Instagram. With the intention of shortly expanding to more nations, Meta is testing the new feature with "a small group of creators in the US". Users can buy digital collectibles of their favourite creators directly from Instagram to support them, the company said in a blog post. Additionally, Meta has expanded the list of digital collectibles that users can showcase on Instagram to include videos and added support for the Solana blockchain and Phantom wallet.

"We're making it easier for people to show appreciation for their favourite creators across our apps, which helps creators strengthen their community and build their business," Meta said.

The tech giant has also expanded access to subscriptions on Instagram to all eligible creators in the US, so that more creators can generate consistent income and build closer relationships with their most devoted followers.

Additionally, Meta introduced gifts on Instagram, starting with Reels, so that the creators can earn money from their followers.

Followers can purchase 'Stars' directly from Instagram to send gifts and support their favourite creators on Reels, the company said.

Earlier, Meta had rolled out new features on Instagram to protect users from abuse, along with updates to Hidden Words.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.