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Just when it seemed like the blockchain market had reached its end, with cryptocurrencies at rock bottom and NFTs barely worth anything, Instagram has appeared to give it a second chance.
Meta has announced that it is testing the creation and sale of NFTs on Instagram. This tool will first reach a few creators in the United States. And, if all goes well, it will be exported to other markets. Instagram aims to be a pioneer in this field within social media.
The company is also expanding Instagram's NFT showcase feature, which it recently made available to users in more than 100 countries. The announcement There are several new ways for creators to make money on their platforms that are emerging in the news.
Meta says its digital collectibles toolkit will allow people to create NFTs on the blockchain from Polygon and then sell them either on Instagram or outside the platform. This is undoubtedly a great opportunity for the blockchain, both for NFTs and for cryptocurrencies.
It is also adding some metadata of OpenSea to the screen, similar to what Twitter does for its NFT profile picture feature. In this way, Instagram wants sell NFTs but without forgetting to create them. This market, along with the cryptocurrencies, they have a long road ahead of them.
And all this comes when Meta is adding new ways for creators to make money on its platforms.On Monday, it announced it is expanding the rollout of professional mode, which gives access to certain tools and monetization options, like your tipping system in virtual currency Stars.
It's also adding something called Instagram giveaways, where fans can basically send money to a creator while watching one of their Reels (gifts are also purchased with Stars).
As with NFT creation tools, it's currently being tested with some US creators, and if it works, it will be rolled out beyond its borders.
Meta no longer sees Instagram as a photo-sharing app, but as an entertainment app.And artists need to make money, whether through somewhat traditional methods like ad revenue sharing or selling NFTs.
Find out more about Chema Carvajal, author of this article.
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Tags: Cryptocurrencies, Social networks, Applications, Instagram
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