Instagram Officially Begins Initial Test Of NFTs
Instagram's CEO, Adam Mosseri, stated in a video on Monday that they will begin initial testing of NFTs with a small group of creators in the United States this week. As Adam mentioned in his post, a limited number of individuals will be able to share NFTs they've manufactured or purchased starting this week. They'll be able to share it on their main feed, Stories, or direct messages. Furthermore, there will be no charges for posting or sharing a digital collectible on the app.
Mosseri said when asked about the beta functionality and how they plan to develop it:
“I’d want to state upfront that NFTs and blockchain technology are all about trust and power distribution. However, Instagram is a centralized platform, so there’s a conflict there. One of the reasons we’re beginning small is because we want to be able to learn from the community.”
This feature will consist of:
Connecting a digital wallet: Once connected, creators and collectors can choose which NFTs they want to share on the network from their wallets.
Sharing Digital Collectables: When a creator or collector uploads a digital collectable, it has a shimmer effect and displays public information such as the NFT description. The impact will distinguish it from the other posts.
Automatic Tagging: The creator and collector will be automatically tagged on the digital collective post if their privacy settings allow it.
With this new endeavor, Instagram hopes to make Web 3.0 technology more accessible to a wider audience. This chance will be appealing and beneficial not just for those who create NFT art, but also for those who wish to collect it.