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Instagram to support NFTs for crypto art

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Instagram, the social media platform owned by Meta, plans to support non-fungible tokens (NFTs) for crypto art from several blockchain networks, with the pilot project happening as soon as Monday, CoinDesk reports. 

See related article: Bored Apes Instagram hack nets millions in stolen NFTs

Fast facts

  • Instagram will allow users to post and share NFTs from Ethereum, Polygon, Solana and Flow blockchains, the networks that host the vast majority of trading in digital collectibles.
  • Ethereum and its Bored Apes lead in NFT market capitalization.
  • Instagram will not charge its users for posting and sharing NFTs, as Twitter initially did for its hexagonal NFT profile pictures in January.
  • Meta CEO Mark Zuckerberg had confirmed that NFTs were coming to Instagram while speaking at the SXSW festival in Texas in March.
  • Instagram, which has more than 1 billion monthly active users, intends to support widely used crypto wallets, such as MetaMask. 

See related article: Top 5 NFT trends to watch in 2022



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