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{"id":5458,"date":"2022-05-10T14:42:35","date_gmt":"2022-05-10T14:42:35","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/05\/10\/instagram-will-begin-testing-nfts-this-week\/"},"modified":"2022-05-10T14:42:36","modified_gmt":"2022-05-10T14:42:36","slug":"instagram-will-begin-testing-nfts-this-week","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/05\/10\/instagram-will-begin-testing-nfts-this-week\/","title":{"rendered":"Instagram will begin testing NFTs this week"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/5\/9\/23063514\/nfts-coming-to-instagram-meta-digital-artwork<\/a>
\n
<\/br><\/code><\/p>\n

\n

A group of non-fungible token<\/a> (or NFT) creators and collectors will soon be able to display their tokens on Instagram. Meta CEO Mark Zuckerberg confirmed in a post<\/a> today that the company is testing NFTs on the platform, with \u201csimilar functionality\u201d coming soon to Facebook.<\/p>\n

Instagram head Adam Mosseri said in a video today<\/a> that a small group of US users will have the ability to display NFTs on their feed, stories, and in messages. NFT details are displayed in a similar way to tagged profiles and products and are named \u201cdigital collectibles.\u201d Clicking on the tag will display details like the name of the creator and owner.<\/p>\n

\n
\n

NFTs on Instagram <\/p>\n

This week we\u2019re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.<\/p>\n

See you next week! \u270c pic.twitter.com\/VuJbMVSBDr<\/a><\/p>\n

\u2014 Adam Mosseri (@mosseri) May 9, 2022<\/a>\n<\/p><\/blockquote>\n<\/div>\n

Mosseri said the test is small to start so that Instagram can learn from the community. Perhaps in an attempt to tackle distrust of a major social networking platform jumping into NFTs, he brings up a tension between large companies like Instagram and the decentralized ethos of Web3. <\/p>\n

\u201cI want to acknowledge upfront that NFTs and blockchain technologies and Web3 more broadly are all about distributing trust, distributing power,\u201d Mosseri says. \u201cBut Instagram is fundamentally a centralized platform, so there\u2019s a tension there.\u201d<\/p>\n

NFTs minted on the Ethereum and Polygon blockchains will be supported initially, with Solana and Flow coming soon, according to Meta spokesperson Christine Pai.<\/p>\n

Mosseri emphasizes that support for NFTs on Instagram could help introduce the technology to a broader range of people. Instagram isn\u2019t the first platform to do so: in January, Twitter introduced NFTs on the platform as hexagon-shaped profile pictures<\/a>. An icon in the corner of Instagram posts of NFTs also appears as a hexagon. Though companies and celebrities have been quick to jump on NFTs, and some recent sales have produced temporary activity spikes, a report by The<\/em> Wall Street Journal <\/em>last week said sales have flatlined<\/a> since a peak last September.<\/p>\n

Update May 9th 1PM ET: Updated to include comment from Meta about the blockchains supported on Instagram. Added embed of video announcement from Mark Zuckerberg.<\/strong><\/em><\/p>\n<\/div>\n


<\/br><\/code><\/p>\n

Source: https:\/\/www.theverge.com\/2022\/5\/9\/23063514\/nfts-coming-to-instagram-meta-digital-artwork<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: A group of non-fungible token (or NFT) creators and collectors will soon be able to display their tokens on Instagram. Meta CEO Mark Zuckerberg confirmed in a post today that the company is testing NFTs on the platform, with \u201csimilar functionality\u201d coming soon to Facebook. 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