NFTs make them dream – This time Meta (formerly Facebook) and instagram step up a gear in terms of tnon-fungible okens (NFT). As we mentioned earlier this morning with the Arweave project (AR)these social media giants have multiplied the collaborations with players in the cryptosphere. This, to provide a deep integration NFTs within Instagram itself.
Polygon chosen as the basic structure to create NFTs made in Instagram
Since May 2022, Meta and instagram have clearly announced that they want to participate in the wave of adoption of non-fungible tokens. A recent update to this project, published on November 2, 2022, announces that content creators will soon be able to create (mint) their own “digital collectibles” directly on Instagram.
These NFT creations will be done on the blockchain polygon (MATIC). This blockchain parallel to Ethereum (ETH) allows exchanges fast and to low cost. Arguments that surely motivated Meta to choose it.
These new functionalities – which in addition to the creation also provide the possibility of up for sale of these NFTs – will initially be tested with “a small group of creators in the United States”. The announcement, however, contemplates a extension to other countries “soon”.
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Mark Zuckerberg’s companies are still continuing their nesting with other players in the small world of cryptocurrencies. Indeed, Instagram announces the addition of blockchain support Solana (SOL) and its portfolio phantom.
Likewise, a collaboration with the famous NFT marketplace OpenSea will make it easier to identify unique digital tokens featured on Instagram. Because OpenSea has enriched with metadata certain collections of non-fungible tokens. This information will therefore be visible on Instagram.
And, as we already mentioned in the introduction, is added to this the choice by Meta of the discreet but promising project Arweaveas a solution of decentralized storage NFTs present on Instagram.
Despite the harsh crypto winter affecting all of this young asset class initiated by Bitcoin, non-fungible tokens are holding up well. Very well even. These tokens made unique by immutability blockchains are attracting more and more traditional players. Just yesterday, it’s the video game giant GameStop which also announced want to ride the wave of NFTs.
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