Oct 24 2022
Instagram NFT Integration Is Here
Ever since May 2022 Meta (Facebook) has been experimenting with digital wallet and NFT integration. Initially, it was available to just a select few U.S creators, but it’s now available to all U.S users and is to select users within 100 other countries. It’s all part of Meta’s journey into
Web 3technology. That all sounds very cool but you’re probably asking yourself one question.
What does Instagram NFT integration actually do?
In one sentence: it allows people to show off their NFTs properly. Yes, before this integration there was nothing ever stopping you from uploading an image of your collectibles and claiming to be the proud owner. But now that Instagram lets you connect to the very wallet that holds your NFTs, your proof of ownership is irrefutable. You can post your 100% legit NFTs to Instagram (or Facebook) for all to see. Plus, there are a few extra features that add to the experience – more on those below.
Instagram will let you connect to MetaMask, Rainbow, Trust Wallet, Coinbase Wallet, and Dapper. All can be accessed on iPhone and Android. Blockchains currently supported are Ethereum, Polygon, and Flow. No doubt this list could grow. Oh, and you’ll be pleased to hear that there are no fees for connecting your wallet, displaying your NFTs, or anything else this new integration facilitates.
The added magic to this integration is in how Instagram lets you display your NFTs, essentially acting as the perfect art gallery. When you upload your NFT image, public information about the NFT that proves authenticity will be automatically displayed alongside it; a description of the NFT, creator, and owner tags.
Credit: (Meta Platforms)
Thankfully, this feature can be turned off in privacy settings. Instagram will also add its own shimmery effect over the image to give it a little sparkle – essentially the equivalent of the Instagram filters we’re used to putting on photos.
Let’s also consider that this is just the start. In the words of Instagram CEO Adam Mosseri…
“One of the reasons why we’re starting small is we want to make sure that we can learn from the community. We want to make sure that we work out how to embrace those tenets of distributed trust and distributed power, despite the fact that we are, yes, a centralized platform.”
This is encouraging. Clearly, the company recognizes that it’s a world away from the Web 3 space and is exercising caution at every turn of this integration.
How easy is it to display your NFTs?
Very easy, the setup only takes a few minutes. Click on the “Digital collectibles” in your Settings menu (if it’s there; it’s not currently available to all users).
Credit: (Meta Platforms)
You’ll then be asked to select a wallet. Once it’s connected you can share your NFTs as posts, like you usually would with your photos or videos.
Why is Meta doing this?
Meta has publicly stated the following.
“Creators are using new technologies like NFTs to take more control over their work, their relationship with their fans, and how they can monetize. At Meta, we’re looking at what creators are already doing across our technologies in order to improve the experience, help them create more monetization opportunities, and bring NFTs to a broader audience”.
It was only a matter of time. The money in NFTs is flowing - despite the bear market - and Instagram is already the world’s biggest art gallery. By integrating NFTs, Instagram can rapidly become a big player in the NFT space and unleash the kind of NFT experience that everyone is dying for. Creators can inform their fans of their work and fans can discover new NFT creators more effectively.
This should help to grow the NFT market by capturing a more mainstream audience. With NFTs no longer confined to wallets or a listing on OpenSea, they’re going to easily find their way onto feeds, and be displayed as part of more general social media content.
In much the same way that camera phones turned everyone into a photographer, the Instagram NFT integration could turn everyone into an art collector. Also, Instagram knows that people use the platform to show off. It’s traditionally been holidays and gym selfies. NFTs can now be another tool to “low-key flex” with.
As with many things Meta does, there’s also an altruistic angle to their motivations. They have stated that they want to “empower diverse voices” and open the NFT space up to “underrepresented groups”.
There are also reports that
Meta is building an NFT marketplace. And Meta has already told us about its
avatar store. The Instagram NFT integration now looks like it’ll be the first piece of the puzzle in establishing Instagram as OpenSea’s number-one competitor.
Meta is playing the long game with this integration. It’s already
betting the house on the Metaverse, planning on spending billions every year for the next decade. Zuckerberg recognizes that this Web 3 adaptation won’t happen overnight, and he’s clearly willing to do whatever he can to make people embrace NFTs and Web 3. He said recently.
“We understand that blockchain technology and NFTs raise important questions on sustainability. Meta will help reduce the emissions impact that might be associated with the display of digital collectibles on Instagram by purchasing renewable energy.”
This, as well as initiatives to educate wider audiences on Web 3, namely with Meta’s “
NFTeach Me” series, demonstrate that the new Instagram NFT integration is just the tip of the iceberg.
As far as VerseProp is concerned, this is brilliant news. Whether you want to show off your new
Skyscraper Collection NFTor a piece of metaverse real estate you’ve just bought from
our marketplace(launching in December), it looks like Instagram will be a key part of your tech stack.
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