NFTs of some of the most popular blockchain networks for crypto art featuring bitcoin and altcoin projects are coming to Instagram with a pilot announcement on Monday. Here are the details…
The networks behind big altcoin projects are coming to Instagram
Meta’s social media application, Instagram; It turned out that it is planning non-fungiable token (NFT) integrations for Ethereum (ETH), Polygon (MATIC), Solana (SOL), and Flow (FLOW). These networks are home to the vast majority of digital collectibles trading, with Ethereum and Bored Ape Yacht Club leading by market cap. The testing process will involve a small group of US-based NFT enthusiasts. It was unclear at the time of launch whether Instagram will support NFTs from all four chains.
Instagram aims to support widely used crypto wallets like MetaMask. By linking their wallets with their social media account, users will be able to prove NFT ownership, showcase the collections on their profile, and tag the curators who revealed the tokens. As we have also reported as Kriptokoin.com, the integration of NFTs into social media accounts was first carried out by Twitter. It is stated on Instagram that, as with Twitter, there will be no charge for posting and sharing NFTs.
NFTs can also be viewed on Instagram
The decision likely means a new wave of cultural visibility for NFTs. Instagram has more than a billion monthly active users; many use the platform to promote and market their art. Meta CEO Mark Zuckerberg gave several hints about the venture in March, without revealing too many details. The Financial Times previously reported that Meta will follow the NFT pilot on Instagram, with options for minting on Facebook and group membership.
Meanwhile, looking at the latest developments about Meta, Blockchain company Dfinity’s lawsuit against Meta stands out. The Switzerland-based Dfinity Foundation, the developer of the Internet Computer Blockchain, has sued Meta for trademark infringement in the US District Court, claiming that Meta’s cyclic logo looks too similar to Dfinity’s infinity symbol. Meta, which also owns Instagram and Whatsapp, is in decline. It announced only single-digit revenue growth for the first time, along with a decline in daily active users in Q4 of 2021.
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