If you are an avid social media user and have a pinch of artistic nature as well, Instagram is planning to bring you the ability of creating your own NFTs from the pictures you post on Instagram and selling them to those with similar interest.
The social media powerhouse owned by Meta, with over one billion monthly active users, has recently announced its plan to unveil some of the most popular blockchain networks for crypto art, giving them the opportunity to enjoy the platform and make money online simultaneously.
NFTs do have potential for visual arts and with more partnerships from big platforms like Facebook and Instagram users can easily promote their own NFT creations and have the opportunity to enjoy these platforms moreover. Meta is currently planning non-fungible token (NFT) integrations for Ethereum, Polygon, Solana and Flow. It wasn’t immediately clear whether Instagram would support NFTs from all four chains, but the act can lead to widespread adoption of NFTs.
Meta CEO Mark Zuckerberg has expressed his interest in eventually allowing Facebook and Instagram users to create and share their own NFTs within these platforms. Although he teased the initiative in March at first, he has stated that he hopes avatar clothing in the metaverse could be minted as NFTs too, which is already a common occurrence in the overall space and lucrative business for blockchain-based, play-to-earn companies. Having said all the above, Meta users will be able to mint their own NFTs monetized via fees or ads in near future.
Meta is seemingly close to establishing its own NFT ecosystem. Its ultimate aim is to encourage eCommerce within the metaverse by supporting widely used crypto wallets such as MetaMask. Plugging in their wallets, users will be able to prove their ownership, but Instagram will not charge them for posting and sharing NFTs.
Earlier this year, Twitter enabled NFT profile pictures for premium users. The act, however, was intended to show how popular yet fatal NFTs are. Anyone can right-click and save the picture and use the image as their own, without spending a dollar to own it.