We’re introducing a way for creators to make their own NFTs (or digital collectibles) and sell them to fans and collectors both on and off Instagram, via Meta.
Currently, this is for a “small group of creators in the US” and the company hopes to invite more testers in other countries.
1. Creators will be able to make their own digital collectibles and sell them to fans, “both on and off Instagram.”
2. They’ll have a toolkit that covers the whole process, from making NFTs (starting on the Polygon blockchain) to showing it off and selling it.
3. Fans will also be able to support them by buying their digital collectibles directly within Instagram.
Meta is giving creators in its platform, Instagram, several new ways for them to make money, and also to grow their communities.
The company has also announced that the Solana blockchain has been added to the list of supported blockchains for displaying NFTs you have purchased from other sources.
This comes after the Ethereum, Polygon, and Flow blockchains were added previously. Like Twitter’s NFT profile image feature, OpenSea metadata is being incorporated into the presentation.
Today’s news comes at a time when Meta is expanding NFT support to more people in 100 countries for content creators in Africa, Asia-Pacific, the Middle East, and the Americas.
Recently, it extended its “professional mode” to more users. Facebook’s professional mode grants a user access to additional features and monetisation options, such as the Stars virtual currency tipping system, which is itself being expanded.
Instagram is also introducing a feature called “gifts,” which allows viewers to buy content creators virtual goods with Stars while they watch one of their Reels. Similar to the NFT creation tools, this is currently being tested by a small group of creators in the United States.
Meta’s New feature – Gifts – is really not a new concept, as this exactly what YouTube is doing with Super Thanks and the Coins and Gifts monetisation system during a TikTok Live. In my opinion, both social media platforms are actively exploring options to help content creatirs earn money from their efforts.
Meta is, of course, also attempting to capitalise on the meteoric rise in popularity of TikTok, especially among young people, and one strategy for doing so is to entice popular creators from TikTok to also post on Instagram.
The company is now introducing Gifts alongside Reels, its version of TikTok videos, as it gradually moves away from a photo-update platform.
1 Comment
Pingback: Instagram is changing the way its web app looks; something it should have done long ago - Innovation Village | Technology, Product Reviews, Business