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- Instagram has teamed up with Polygon to announce the launch of its own NFT marketplace.
- The marketplace will allow users to mint and sell their NFTs on the platform.
Social media giant Instagram has announced the launch of its own NFT marketplace that will soon allow its users to mint and trade NFTs.
Instagram launches NFT marketplace
on a thursday announcement Made by popular social media apps, Instagram Announced that it will soon allow its users to mint digital tokens on its platform.The platform will also launch its own marketplace, giving users more power by allowing creators to sell their own marketplace NFT.
Currently, Instagram will allow select users to sell NFTs through its app; however, the social media giant will soon allow all of its users to access its newly launched NFT marketplace.
Instagram will also launch a new toolkit to help users navigate its newly launched marketplace for minting and selling NFTs to interested NFT enthusiasts. The platform has announced a partnership with Polygon to allow its users to mint NFTs with minimal hassle.
“Creators will soon be able to create their own digital collectibles on Instagram and sell them to followers on and off Instagram.” They will have an end-to-end toolkit from creation (starting with the Polygon blockchain), display to sale. “People can easily support their favorite creators by purchasing their digital collectibles directly in Instagram,” the announcement reiterated.
The announcement also noted that Meta is working to expand the types of digital collectibles that can be shared through Instagram.
“In addition to the blockchains and wallets we already support, we’ve expanded the types of digital collectibles you can showcase on Instagram, including videos, and added support for the Solana blockchain and Phantom wallet.” “via OpenSea has enriched metadata for curated collections with information, such as collection names and descriptions, and will now be available on Instagram.”
Despite slow NFT growth throughout 2022, Meta does not appear to be deterred by the drop in volume and continues to experiment in the crypto and NFT space. The company recently released its second-quarter earnings report, which disclosed a staggering $3.7 billion loss. However, Meta CEO Mark Zuckerberg seems optimistic that his company will bounce back soon, given its recent investments in Instagram reels and artificial intelligence.
“It’s great to see the positive trajectory of our engagement trends this quarter coming from products like Reels and our investments in AI,” said Meta founder and CEO Mark Zuckerberg. “We’re putting more effort into it.” And focus on our key corporate priorities that drive near- and long-term opportunities for Meta and the people and businesses that use our services. “Zuckerberg Add to.
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