Instagram to Open NFT Feature to More Than 100 Countries!

The company said in its post that digital wallets must connect to Instagram in order to issue an NFT. It has also completed third-party wallet integrations with Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet.

Blockchains currently supported are Ethereum, Polygon and Flow. It was previously announced that there will be no fees associated with posting or sharing digital collectibles on Instagram. Flow is a layer 1 Blockchain with the FLOW token of the same name, which acts as a tender for network participation, transactions and governance. Key ecosystem partners include Warner Music, Ubisoft, National Basketball Association, Ultimate Fighting Championship, Animoca Brands, Circle, Binance, OpenSea. According to recent announcements, Meta has also joined this list. With the Metaverse, digital assets have become one of Meta's key components for expansion. In the second quarter of 2022, the company's revenue fell 1 percent year-on-year to $ 28.8 billion. In addition, operating income fell 32 percent to $ 8.36 billion in the same period. CEO Mark Zuckerberg stated that the company was not affected by the huge loss of $ 2.8 billion in the Metaverse division. He also said that instead there is an opportunity to earn hundreds of billions or even trillions of dollars as the sector matures. Zuckerberg said that they want their efforts in the NFT sector to "amplify diverse voices and give underrepresented groups access to new digital assets like NFTs. By offering NFT support, they aim to increase accessibility and reduce barriers to entry. Meta, formerly Facebook, was founded in 2004. It also quickly became one of the most popular websites. In October 2021, Facebook announced that it changed its name to Meta with a restructuring decision. Reflecting the company's future plans, the change is the first step in realizing plans to transform the social media platform into a Metaverse. Meta also announced that work is underway to bring NFT support to Facebook after Instagram.   Source: nfxhaber.com