NFTs on Instagram: Learn how it works

Adam Mosseri, head of Instagram, assured that NFTs (digital assets with a record of authenticity) will make their way to the social network permanently.The company will begin testing this week with a small group of users who will be able to storyfeed or send via message.

Since 2020, these digital assets have gradually gained importance and are officially called non-fungible tokens.They can be images, GIFs or even anything in words online. Its value is tied to its unique properties. The person who gets the NFT becomes the owner of the file.

How it will work on Instagram

According to Mosseri, there are no additional fees for posting or collecting social media collectibles. The goal is to start small, especially for the platform to understand how it is received and used.

The details of each NFT will be displayed on the social network in almost the same way as the store format, including the product, the creator’s name and in this case the owner’s name.

In the video detailing the novelty, the head of the social network also emphasized that the company wants to learn and offer more technology, however, since it is a centralized platform, there needs to be a certain level of composure to deal with additions.

The chorus was done by Meta’s CEO, Mark Zuckerberg. In addition to Instagram, he also confirmed that the company has been testing a similar feature on Facebook. The release of the duo will happen soon.

We started creating NFTs not only in our Metaverse and Reality Lab [local de pesquisa da Meta para criação de novas funcionalidades]and in our application series. mark Zuckerberg.

The CEO and founder of Facebook even said that 3D NFTs are also a focus and are being researched. This will be used in conjunction with Spark AR, augmented reality websites and Instagram filters.

Meta has yet to give a date for the service’s official launch.

According to Bitcoin news site CoinDesk, the blockchains (data storage and processing technology) chosen for NFT transactions are: Ethereum (ETH), Polygon (MATIC), Solana (SOL) and Flow (FLOW).

Are NFTs accepted on other social networks?

The process of using NFTs in social networks is still ongoing, but Twitter was the first major platform to join in January of this year.

They can be used as hexagon profile pictures and published for a fee – unlike what Meta originally developed.

This feature was released exclusively for users of the Network Blue service. Still, Twitter has released token downloads that can be used on other devices. The possibility of downloading is a widely debated topic, as we are talking about devices that have been purchased and exist only in the digital world.

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