As Mark Zuckerberg announced at SXSW, Instagram now supports NFTs. But it’s happening during one of the biggest downturns in crypto history.
Digital Music News reported that Meta would bring support for NFTs to Instagram just a few months ago. Now the feature is here as creators and collectors can share their digital collectibles on Instagram. Here’s how Meta says the system works.
- Connect a digital wallet. Users can share which NFTs from their wallet they’d like to display on Instagram.
- Share digital collectibles. Digital collectibles will have a shimmer effect that can display public information, like a description of the NFT.
- Automatic tagging of creator and collector. Both collector and creator are attributed on Instagram on any post displaying the NFT.
Meta says it collects and organizes public data from open blockchains like Ethereum to provide the attribution feature. “From this public blockchain data, we can only identify which collectibles belong to collectors and creators when they connect their third-party wallets to Instagram,” the announcement reads. Supported blockchains at launch include Ethereum and Polygon, with support for Flow…