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Benzinga
Benzinga
Business
Blockcast

How Significant Is Instagram's NFT Launch? What are the things you should look out for?

Earlier this month the head of Instagram, Adam Mosseri, announced that he will start beta testing NFT functions with a small group of users in the US.  Mosseri also confirmed there will be no fees for posting or sharing NFTs on Instagram.  Any NFT digital collectibles shared in Instagram will appear as tagged photos or profiles, and when clicked, you will be able to view creator and artwork details.  Instagram supports the display of NFTs created on the Ethereum and Polygon as well as on Flow and Solana in the future.  It will also support the use of third-party encrypted wallets such as Rainbow, MetaMask and Trust Wallet, with support for more crypto wallets planned in the future.

 

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