Meta is continuing its support for the promotion of NFTs, even though NFT sales have started declining now. The company had originally launched the NFT display option on Instagram to selected users in the US and is now rolling it out in more than 100 countries. In honour of expanding the feature, Mark Zuckerberg shared his first soon-to-be NFT image on Instagram.
NFTs on Instagram could be shared within the main Feed, Stories, as well as Direct Messages. A Digital Collectibles tag will be displayed next to the NFTs, tapping which will show information about the creator of the work, along with the ownership of their NFT.
In addition to this, Instagram will add an NFT tab to participating accounts. The tab will be displayed with a tick inside a hexagon as a verification mark.
The NFT process on Instagram supports some of the top crypto payment options, such as Coinbase, Dapper, Ethereum, Polygon, and Flow. Additionally, creators will be able to connect their Rainbow, Trust Wallet and MetaMask accounts to verify ownership of their collectibles.
The NFT market may be losing its significance, but in the longer run, it could become an important part of Meta’s digital future, the metaverse, as NFTs could enable the trading of digital items, such as in games or for avatars. Meta’s efforts towards the expansion of NFTs, could therefore, produce valuable outcomes.