NFTs are coming to Instagram – here’s how to make money

Published

2 years ago

May 10, 2022

Natasha Schapova

Move over Twitter because Instagram is launching itself into the NFT world

The social media site will allow non-fungible tokens to be displayed on the profiles of creators and collectors.

Instagram is currently testing the new feature, with “similar functionality” soon to follow on Facebook.

The platform’s head Adam Mosseri revealed details in a video posted to social media.

He says that NFTs will be available to a small group of users in the United States, and can be displayed on their feed, stories and in messages.

Details of the NFT will be listed in the same way as a tagged profiles and products, labelled “digital collectibles”, detailing the name of the creator and owner.

Meta has told reporters that the NFTs are unique due to a visual “shimmer” in the product images.

Multiple blockchains will be supported including Ethereum and Polygon, with the Flow and Solana to follow.

Users will need to link their Instagram to a third-party digital wallet, either Rainbow, MetaMask or Trust Wallet.

The feature was originally scheduled to launch on Instagram in March but has been delayed.

Related Topics:Business Instagram nfts trending

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Natasha Schapova

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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May 3, 2024

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How AI is leveraging Amazon’s fast production

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May 2, 2024

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Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

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Tesla is slashing prices to stay competitive

Published

2 weeks ago

April 21, 2024

Reuters

Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.

Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.

On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.

Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.

The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.