Connect with us

NFT

Meta is currently testing a method to mint and sell NFTs via Instagram

Meta has revealed it’s now testing minting and selling NFTs using Instagram like with traditional NFT marketplaces ,. Only a few creators in the US will have access to this feature. The company’s also expanding Instagram’s NFT showcase feature, which it recently made available to users in over 100 countries. This announcement is part of a series of new ways that creators can make money on their platforms.

Meta says its digital collectibles toolkit will let people create NFTs on the Polygon blockchain (as always, no relation to Polygon the video game news outlet) and then sell them either on Instagram or off the platform. The company now supports NFTs purchased from other sources. You can also display NFTs created on the Solana blockchain. The display will also include metadata from OpenSea, much like what Twitter does for its .NFT profile picture feature HTML1.

Four screenshots showing the process of listing, selling, and buying “collectibles” on Instagram.

Top: the process of making and selling NFTs on Instagram. Bottom: The process of purchasing an NFT via Instagram.

Image: Meta

All of this comes as Meta’s adding new ways for creators to make money on its platforms. On Monday, it announced it’s expanding the rollout of professional mode, which gives you access to certain tools and monetization options, such as its Stars virtual currency tipping system (which it’s also expanding). Instagram is also offering gifts. This allows users to send money to creators while they watch their Reels. The gifts can be purchased with Stars. This is similar to the NFT creation tools and is currently being tested with some US-based creators.

The system sounds very similar to TikTok’s Coins and Gifts monetization scheme, or YouTube’s Super Thanks feature but that’s not necessarily a surprise. Both platforms seem to be trying to find ways to allow creators to monetize their work. Of course, Meta is also trying to capture the runaway popularity that TikTok has enjoyed, especially among young people, and part of that involves enticing popular creators from that platform to also post on Instagram. It’s telling that it’s launching gifts with Reels, its version of TikTok videos, and not, say, photo posts.

As Adam Mosseri, the head of Instagram, said last year, Meta doesn’t see Instagram as a photo sharing app anymore — it sees it as an entertainment app. And entertainers need to make money, whether its through somewhat traditional methods like sharing ad revenue, or by selling NFTs and getting fans to directly send them money in the form of gifts, coins, or stars.

Read More

NFT

Report: SEC Concludes Opensea Probe, Drops Enforcement Threat Over NFTs

The U.S. Securities and Exchange Commission (SEC) has reportedly ended its investigation into Opensea and will not pursue enforcement action against the non-fungible token (NFT) marketplace over allegations that its NFTs constituted unregistered securities, the company confirmed to Bloomberg this week. Following Coinbase, SEC Ends OpenSea Investigation Under Trump’s Regulatory Climate Opensea…
Read More

Continue Reading

NFT

A Beginner’s Guide to Crypto AI Agents

First, it was Bitcoin. Then defi. Then NFTs. Now, AI is taking the crypto world by storm, unlocking new possibilities (and new riches). If you’re not paying attention, you’re about to miss one of the most explosive narratives of the cycle. This piece is a guest post by Blocmates…
Read More

Continue Reading

NFT

NFT Market Stumbles in January: Sales Drop 39% in Rocky Opening to 2025

Based on data gathered from Jan. 1 through Jan. 31, 2025, non-fungible token sales (NFT) experienced a 38.97% decline compared with the final month of 2024. Ethereum led in sales by amassing $340.47 million, although transactions on that particular chain registered a 36.58% decrease from the previous month…
Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.