The NFT industry is a thing in today’s world, whether we like it or not. In fact, NFTs have been around for a long time, just not in the same way we know them today. But eventually, the concept of digital assets caught on, and NFTs blew up! And with the new Instagram NFT market, NFTs could become a normal transaction, not a niche. So what’s up with that? And how can you take advantage of the platform? Let’s find out together!
Instagram NFT Market – Make Digital Collectibles Common!
Before we get into details on the whole Instagram NFT thing, let’s do a recap. The NFT world goes way back, and we knew that. However, the first time it gained traction was in 2017 with CryptoKitties, the Ethereum blockchain-based video game. From then on, the general public kinda forgot about it. And then, 2021 rolled around, and with it a huge wave of NFT novelty! More people were getting into it. Industries were backing and merging their business with the NFT world.
But you know how after every fast up there’s a fall somewhere, and that’s exactly what happened here. After the fast surge of NFTs, the crypto market crashed, taking NFTs along. We covered the whole thing here if you wanna know the details. But anyway, maybe it was a purge that the industry needed because the people who stayed were the serious ones. At the same time during which this all was going on, Meta was working on the Instagram NFT market.
What’s the Instagram NFT Market?
First off, Facebook acquired Instagram back in 2012. However, when Facebook rebranded and became Meta, many things changed. So Meta was all about introducing the metaverse to our everyday lives. Although it’s not this popular yet, the company’s latest effort is the Digital Collectibles feature on Instagram.
Initially, the feature started off as a way to show off your collection. Once you connect your wallet, you can choose the NFT you wanna show. That NFT will look like a post on your feed, with a twist. The image twists to give a 3D effect, in addition to the option of clicking on it to know who the owner and creator are. But November 2022 came and with it the option to create and sell your own NFT on Instagram!
Supported Type of NFTs
- Images
- Videos
Wallets You Can Connect
- Rainbow
- MetaMask
- Trust Wallet
- Coinbase
- Dapper
- Phantom
Blockchains You Can Do Your Instagram Transactions Through
- Ethereum
- Polygon
- Flow
- Solana
Beyond Instagram’s Digital Collectibles
In the latest updates, Meta made sure that you can share your collectibles across different platforms. Naturally, that means Facebook and Instagram. So if you connect your wallet to one, you’ll be able to share your NFTs on the other. It’s a pretty cool idea if a creator has a fanbase on both platforms. Finally, if you’re a creator and would like to join the game, you’ll be able to create your art on or off IG and sell it! Whether this venture will kick off remains to be seen. In the meantime, here’s a list of NFT gifts that can come in handy this holiday! Godspeed
