Meta Tests Ways to Make & Sell NFTs on Instagram

Meta introduced gifts on Instagram, starting with Reels, so that the creators can earn money from their followers.

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Instagram social media platform owned by Meta

PHOTO | Omkar Patyane

Meta has announced testing ways to buy and sell non-fungible tokens (NFTs) to fans and collectors both on and off Instagram with “a small group of creators in the US”.

Users can buy digital collectibles of their favourite creators directly from Instagram to support them, the company said in a blog post.

Meta has expanded the list of digital collectables that users can showcase on Instagram, including videos and added support for the Solana blockchain and Phantom wallet.

NFTs are digital assets that represent things like art, virtual avatars, GIFs, videos, trading cards and even memes.

“We’re making it easier for people to show appreciation for their favourite creators across our apps, which helps creators strengthen their community and build their business,” it said.

Additionally, Meta introduced gifts on Instagram, starting with Reels, so that the creators can earn money from their followers.

The company said that followers can purchase ‘Stars’ directly from Instagram to send gifts and support their favourite creators on Reels.

Earlier, Meta had rolled out new features on Instagram to protect users from abuse, along with updates to Hidden Words.


 

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