Meta on 2, Nov 2022, introduces new ways for creators to sell and mint NFTs both on and off Instagram on Polygon.
Takeaway Points
- Meta announces the launch of Instagram NFTs on Polygon.
- This will allow creators to create and sell their own digital collectibles to their fans, both on and off Instagram.
- Instagram subscriptions, gifting on Instagram Reels, and Facebook Stars were also added as new features.
- Meta also launched a new profile setting on Facebook.
Building projects to help creators earn money
Meta, formerly Facebook, announced Wednesday that Instagram users can now create their own NFTs on the site and sell them to collectors and fans, both on and off Instagram. According to Meta, people can now buy digital collectibles directly from their favorite creators and have an end-to-end toolkit from the creation. This will be tested with a few users in the US first, before being expanded to other countries.
“Creators will soon be able to make their own digital collectibles on Instagram and sell them to fans, both on and off Instagram. They’ll have an end-to-end toolkit-from creation (starting on the Polygon blockchain) and showcasing, to selling.” Meta said.
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Polygon said that with the launch of Instagram NFTs on their blockchain, Meta has joined the global companies (Robinhood, Stripe, etc.) “who choose Polygon as their entryway into Web 3.”
Polygon co-founder, Sandeep Nailwal, said during his speech that this is a great way to introduce Web3 to the next billion users.
“This move represents a remarkable milestone in the evolution of Instagram’s existing NFT functionality and a natural next step to bring Web3 to the mainstream. The value added to the creator economy is unmatchable, and championing verifiable digital ownership on a platform with such reach will help us further our goal of onboarding the next billion users to Web3.” He said.
New features
Meta is building a community where people can connect with creators and peers all over the world and also earn a living. Subscriptions on Instagram will be introduced to all qualified creators in the US, according to the report, Creators like Cole Sprouse, Alan Chow, and Skai Jackson have used these subscriptions to connect more with their supporters since Meta introduced them earlier this year.
From the report, people can now find Reels, including Stars, on public creator content on Facebook, and those who are already using stars, according to Meta can now: bring Stars Party to Reels; test a new set of virtual gifts tailored to specific content; give creators more tools to engage with Stars senders and bring Stars to non-video public content like photos and text posts.
Facebook’s new profile setting
Meta said it’s launching “professional mode” for Facebook profiles. This is a new profile setting that will give creators all over the world access to build a public presence while maintaining their personal Facebook experience. With professional mode, creators can grow a global community from their profile; become qualified to earn money through stars, and have access to content and audience analytics.
Meta in May, began to test NFT profile pictures on Ethereum and Polygon for a few US creators, allowing everyone to connect their wallets and share digital collectibles, and by September they had expanded to 100 countries across Africa, Asia-Pacific, the Middle East, and the Americas.
