BusinessDay

African creators can now share NFTs on Instagram

Mark Zuckerberg has announced that Meta is beginning its international expansion of digital collectibles on Instagram, following the initial test launch of the product in May.

As part of the expansion, more people, creators, and businesses in over 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas will be able to share their non-fungible tokens (NFTs) on IG. This feature allows people to connect a digital wallet, share digital collectibles and automatically tag both a creator and collector for attribution.

“We are not just building technology. We are trying to also help foster this ecosystem, because at the end of the day, we are not going to build most of the content – by a long shot. The vast majority of it is going to get created by creators in the ecosystem.

And so I think a big part of what we need to do is really lean into all of the different ways that creators could make money. So some of that will be things like supporting commerce, part of that will be NFTs and ownership around that,” Mark Zuckerberg, CEO, Meta, said.

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Also, Coinbase Wallet and Dapper Wallet are now accepted as a third-party wallet compatible for use and the company is expanding its supported blockchains to include Flow, in addition to Ethereum and Polygon.

According to the company, this milestone reflects Meta’s continued work to expand access to web3 technology through NFTs, and support creators who want to monetize their work and build community with their fans and collectors.

“I just think the more different tools that creators have to be able to make money, the more they’re going to be able to do their work and hire people to join their team, to build out even more use cases. And that will propel all these platforms forward,” Zuckerberg said.

Across Meta, the company says it will continue listening to feedback as it embarks on this area of investment for the company and continue rolling out the product. “We’ve already started to bring digital collectibles to Facebook, as well as allowing people to display and share their digital collectibles as augmented reality (AR) stickers in Instagram Stories.

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