Meta has revealed more details about how NFTs will function on Instagram. You can show what you’ve bought or created for free in the US-based test by connecting your Instagram account to a compatible digital wallet and posting for all to see.
If desired, the social network can use public blockchain data to automatically tag both the creator and the collector. You can also display information in the form of a description. And, as previously stated, NFTs will shimmer to help you show off your art collection.
Instagram will initially support MetaMask, Rainbow, and Trust Wallet wallets. Coinbase, Dapper, and Phantom will be available “soon.” Initially, public data will be provided by Ethereum and Polygon, with previously promised Flow and Solana support arriving in the near future.
The social media platform also emphasized that NFTs were still subject to community rules. It was also aware that NFTs, like cryptocurrency and other blockchain products, can be environmentally hazardous.
By purchasing renewable energy, the company hoped to offset the CO2 emissions caused by displaying digital artwork.
Meta will add NFT support to Facebook and allow Instagram users to use their pieces as augmented reality stickers in their Stories. According to the company, there will be “additional features” for both creators and collectors.
Whether you think NFTs are fads or permanent fixtures, it’s clear that Meta will be investing in them for a while as it builds out its metaverse vision.