Tech

Meta’s Instagram to get support for Ethereum, Polygon, and Solana NFTs

Meta-owned Instagram is preparing to support non-fungible tokens (NFTs) built on four blockchains – Ethereum, Polygon, Solana and Flow. These blockchains are the first four networks that NFTs powered by Instagram are built upon. NFTs are digital collectibles that rely on the blockchain network for storage and support. These virtual keepsakes can be inspired by literally anything – music, video games, artists, iconic brands and digital characters. With the rise of the Metaverse world, most NFTs will even be pushed to interact with their immediate digital environment.

Instagram, which is reported to have a user base of over a billion users, is launching a pilot for NFT support on its platform, CoinDesk reported over the weekend.

While Ethereum is the top choice for NFT makers to build their virtual collectibles, Solana is not far behind.

According to data tracker CryptoSlam, Solana ranks second in all-time NFT sales. Polygon has emerged as another energy-efficient blockchain network alongside Solana, which is why developers choose it to support their work.

For now, Instagram is not attempting to charge users for posting their NFTs on its platform.

Instagram clearly takes a different approach than Twitter when it comes to exposing its users to the NFT space.

When Twitter added the hexagonal NFT profile picture feature, users were initially charged for using it.

Detailed details of the Instagram pilot project remain secret for the time being.

Meanwhile, the development has caused excitement among members of the NFT community.

Mark Zuckerberg, Meta boss, had announced his plans to bring NFT-related features to Instagram in March.

At the time, the tech mogul said Instagram users would “hopefully” be able to mint their own NFTs on the app in the coming months.

Sales of NFTs hit $25 billion (around Rs. 1,84,700 crore) in 2021 as the speculative crypto-asset’s popularity exploded, data from market tracker DappRadar shows [showed](https://gadgets360.com/c

Digital artists, who value the NFT sector for spreading the word about their work, will boom when it comes to reaching a wider global audience with Instagram’s upcoming features.


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https://gadgets360.com/cryptocurrency/news/meta-instagram-support-ethereum-polygon-solana-nft-2958424 Meta’s Instagram to get support for Ethereum, Polygon, and Solana NFTs

Ryan Sederquist

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