Instagram to start testing NFTs
By MYBRANDBOOK
Instagram will start testing digital collectables to enable creators and collectors to display their non-fungible tokens on their profiles.
Instagram is working with a small number of users to test the feature, which will let users share Non-fungible Tokens or NFTs in their main feed as well as Stories and in messages by linking third-party digital wallets in-app.
The wallets will be Rainbow, MetaMask, and Trust Wallet, with Coinbase, Dapper and Phantom coming soon. Instagram head Adam Mosseri announced that there will be no fees associated with posting or sharing a digital collectible on Instagram.
Only a limited number of people have access to the Instagram test, but the company plans to roll out more functionality related to NFTs in the future once it gets feedback from its initial testing. CEO Mark Zuckerberg said that similar functionality will soon come to Facebook and that the firm is also bringing augmented reality NFTs to Instagram Stories via the firm's Spark AR technology.
Mosseri said, “We think one really interesting opportunity for a subset of creators is NFTs—the idea of owning a unique digital item. The initial test, limited to a select few users, invites folks to share via Feed, Stories, or DM the digital assets they've made or bought. If this trial proves a success, Instagram will need to build a lot more functionality. We wanted to start small and learn from the community.”
“I want to acknowledge upfront that NFTs and blockchain technologies and Web3 more broadly are all about distributing trust, distributing power. But Instagram is fundamentally a centralized platform, so there's a tension there,” he added, adding that support for NFTs on Instagram may popularise the technology further.
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
MATRIX COMSEC PVT. LTD.
CENTRE FOR DEVELOPMENT OF TELEMATICS
HP INDIA SALES PVT. LTD.
GLOBUS INFOCOM LTD.
Technology Icons Of India 2023: Kulmeet Bawa
Kulmeet Bawa resides as President & Managing Director, SAP Indian subc...
Technology Icons Of India 2023: Aalok Kumar
Aalok continues to lead the India business and further strengthen Indi...
Technology Icons Of India 2023: Sunil Gupta
Sunil Gupta is the Co-founder, Managing Partner & CEO of Yotta Infrast...
INDIANOIL helps reach precious petroleum fuels to every nook and corner of the country
IndianOil, a diversified, integrated energy major with presence in alm...
TCIL continues to strengthen India with its technology expertise
TCIL undertakes consultancy & turnkey projects in the field of Telecom...
EESL encouraging e-mobility adoption across India
Energy Efficiency Services Limited (EESL) is a Super Energy Service Co...
INTEGRA MICRO SYSTEMS PVT. LTD.
Integra is a leading provider of innovative hi-technology products an...
SAVEX TECHNOLOGIES PVT. LTD.
Savex Technologies is the 3rd largest Information & Communication Tec...
EXCLUSIVE NETWORKS SALES INDIA PVT. LTD.
Exclusive Networks is a globally trusted cybersecurity specialist hel...