Meta has announced new features for creators as part of its Creator Week. These include expanded monetization tools and new options for creation and selling of NFTs.
The fan subscriptions feature on Instagram that was launched to selected creators in January is now being expanded to all eligible creators in the US. This will enable creators to obtain a fee between $0.99 and $99.99 through direct support from their audiences. The subscribers, as a result, will have access to subscribers-only features like live-streams, posts, Stories, and badges in comment streams. Moreover, creators will be able to obtain all the money raised from subscriptions, as Instagram is not takeing cut from subscriber revenue at this point.
Another monetization tool on Instagram is similar to Facebook Stars. Integrated within Reels, it allows creators to make money via virtual Gifts sent by viewers. Currently, the tool is being tested with users in the US.
Facebook Stars on the other hand is being expanded to more creators. Additionally, Stars will now be available on photo and text posts, along with videos, live-streams, and Reels. Meta has also developed a new way of engaging with Stars, called ‘Star Party,’ which consists of a spike of Stars sent by viewers on a livestream or Reels video. As explained by Meta, “When the spike occurs, an overlay with a countdown will appear on the screen with a progress toward a goal, encouraging fans to send Stars and meet the Stars goal.”
Lastly, in the NFT domain, a new process is being introduced to allow users to both create and sell NFTs within Instagram via an ‘end-to-end toolkit’ that facilitates fans and collectors to purchase NFTs.