Meta CEO Mark Zuckerberg announced that the company has begun expanding NFT support for Instagram to other countries. After the announcement, altcoin projects that were planned to be integrated into the platform rose sharply.
Meta expands NFT support to 100 countries
After Instagram’s first NFT test in May, we saw some work in this area. According to the latest announcement, more than 100 countries in Africa, Asia-Pacific, Middle East and America will now be able to share their NFTs on Instagram. The announcement came today from Meta’s Twitter account. Meta announced that they have launched integrations with Dapper, Coinbase Wallet, and Flow Blockchain networks.
Mark Zuckerberg announced we’re rolling out digital collectibles to 100 more countries. Now, more people, creators and businesses can showcase their #NFTs on @instagram.
We're also launching integrations with @CoinbaseWallet @hellodapper and support for @flow_blockchain.
— Meta Newsroom (@MetaNewsroom) August 4, 2022
About a month ago, Meta officials interviewed that they are testing NFTs on Polygon, Solana, Ethereum and Flow networks. According to recent statements, Meta prefers Flow network for NFT features. NFTs will be available to users for display on the platform.
Instagram adds Flow to its list of supported altcoin projects
Instagram’s NFT feature will allow users to make various transactions over NFTs. NFTs can share in chats, stories and on the Instagram homepage. Instagram previously announced that it will launch NFT integrations for Ethereum, Flow, Polygon, and Solana and its networks. Following Meta’s tweet above, FLOW, one of the altcoin projects on the list, has risen over 40%. Currently holding gains around 30% despite slight correction. Meanwhile, FLOW price broke the $2.0 resistance hard.
Meta says today’s expansion reflects efforts to expand access to web3 technology through NFTs. The company, which focuses on VR products, says it supports people who want to monetize their work and build a community with their collectors. During the first NFT test launch in May, Meta had this to say:
We understand that blockchain technology and NFTs raise important questions about sustainability. By purchasing renewable energy, Meta will help reduce the emissions impact that can be associated with displaying digital collectibles on Instagram.
Preparing for NFT integrations on Youtube, Reddit and Twitter
The expansion on Instagram comes a few weeks after Meta started testing NFTs with select creators on Facebook. At the time, the company said it wouldn’t offer the ability to convert digital collection shipments into ads for now.
As you follow on Kriptokoin.com, Instagram’s NFT functionality expansion comes as Twitter-enabled NFT profile pictures for premium users earlier this year. Instagram and Twitter aren’t the only digital giants looking to embrace NFTs, as YouTube CEO Susan Wojcicki suggests the platform could embrace Web3 technologies, including NFTs, to help YouTube creators monetize. In addition, Reddit has recently launched a new NFT-based avatar marketplace that allows users to purchase Blockchain-based profile pictures for a flat fee.
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