Instagram will test NFT of the Ethereum, Polygon and Solana blockchains.

Venancio Cespedes West

The Ethereum, Polygon and Solana blockchains are the leaders in NFT trading volume. The leading network in NFT is Ethereum, with projects such as Cyberpunks and Yuga Labs' Bored Ape Yacht Club (BAYC).

https://img.particlenews.com/image.php?url=0eeJ0H_0fYA9Tet00
Instagram // Veny West For NewsBreak

Twitter launched support for NFT in early 2022 under its Twitter Blue service.

Mark Zuckerberg, CEO of META, commented that Instagram will begin testing the integration of Non-Fungible Tokens (NFT) starting this week.

Twitter Blue has a subscription cost of $2.99 per month, Instagram will give free support for NFT users.

This week we're starting to test digital collectibles on Instagram so creators and collectors can display their NFTs on their profile. Similar functionality is coming to Facebook soon, along with augmented reality NFTs on Instagram Stories via Spark AR so you can place digital art into physical spaces. - Mark Zuckerberg

Alexandru Voica of META EMEA commented that META started with NFTs because they are an important aspect because of the economic potential of the metaverse, but the company is exploring other web3 technologies.

It's unclear why Instagram wants to coin its own NFTs, but it's clear that for many NFT markets gas tariffs are a big barrier to entry.

What is an NFT?

A non-fungible token (NFT) is a unit of data on the blockchain that can be traded. It can be represented as digital files such as photos, videos and audio.

The largest NFT marketplace, OpenSea.

Disclaimer: The information provided in this section does not represent investment advice.

Sources: Twitter, Instagram, Facebook, Coin Desk, OpenSea

Comments / 0

Published by

Hello, I'm Venancio, an international journalist. I deliver unbiased news with valuable information about the world of web3. ¡Pura Vida! ₿ **No financial advisor**

N/A
249 followers

More from Venancio Cespedes West

Comments / 0