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.
