Instagram wants you to create and sell your NFTs from its app

When it seemed that the blockchain market had reached its end, with cryptocurrencies on the floor and NFTs with little value, Instagram has appeared to give it a second chance.

Meta has announced that it is testing the creation and sale of NFTs on Instagram. This tool will first reach a few creators in the United States and, if all goes well, it will be exported to the rest of the markets. Instagram wants to be a pioneer in this field within social networks.

The company is also expanding Instagram’s NFT storefront feature, which it recently made available to users in more than 100 countries. Ad hits the news of several new ways for creators to make money on their platforms.

Meta says its digital collectibles toolkit will allow people to create NFTs on the Polygon blockchain and then sell them either on Instagram or off the platform. This is, without a doubt, a great opportunity for the blockchainboth for NFTs and for cryptocurrencies.

It’s also adding some OpenSea metadata to the screen, similar to what Twitter does for its NFT profile picture feature. In this way, Instagram wants to sell NFTs but without forgetting to create them. This market, along with cryptocurrencies, have a long way to go.

Instagram wants its creators to make more money, not just from NFTs

And all this comes when Meta is adding new ways for creators to earn money on their platforms. On Monday, it announced that it is expanding the rollout of the professional mode, which gives access to certain monetization tools and options, such as its tipping system. in Stars virtual currency.

You are also adding something called gifts on Instagram, where fans can basically send money to a creator while viewing one of their Reels (gifts are also purchased with Stars).

As with the NFT creation tools, for now it is being tested with some creators in the United States and if they work, it will be transferred outside its borders.

Meta no longer sees Instagram as a photo sharing app, but as an entertainment app. And artists need to make money, either through somewhat traditional methods like ad revenue sharing, or by selling NFTs.