Web3 and the metaverse: NFT lands on Instagram

One foot in Web3 for meta. The American group, which owns Facebook, Instagram or WhatApp, announced Tuesday, May 10, the arrival of a new functionality. It will allow its users to post NFT (Non-Fungible Token) on their social wall. Instagram will be the first network to embark on this adventure. Facebook will follow.

The NFT affixes a type of Certificate of Authenticity to a unique digital file. This new concept can therefore be shared on social networks for free. Adam Mosseri, head of Instagram, explains this in a message posted on Twitter. “This week, we’re starting to test ‘Digital Collectibles’ with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing digital collectibles on IG”he explains.

NFT on Instagram: instructions for use

Sharing his visual work (photo, video, etc.) will follow the following process:

  • First Step: Connect to a wallet or digital wallet. Once linked, creators and collectors will be able to choose the NFTs from their portfolio that they want to share on Instagram.
  • Step Two: Share the digital holdings. Once the creator or collector publishes a digital collection, it will have a brilliant effect to distinguish the post from other publications. And it will be possible to display general information, such as the description of the NFT.
  • Third step: Auto-tagging of the constructor and assembler. The creator and assembler can be set automatically in the digital publication (depending on their privacy settings, says Meta).

At first, just file NFTs held on the Ethereum and Polygon blockchain It will be compatible with Instagram. In the second step, you will follow those stored in Flow and Solana. Note that the first compatible wallets will be: MetaMask, Rainbow, and Trust Wallet. Three more have already been announced: Coinbase, Dapper, and Phantom, but with no specific availability date. You will need to link your wallet to your Instagram account to be able to share the NFT (your choices) of your choice.

An example of an NFT shared on Instagram and related information. Photo: dead.

With NFTs, digital work ownership traceability

So this new functionality should allow holders of a digital workbook to better retain ownership. Or in any case claim it in a simple and effective way because the “Property Certificate” associated with the NFT is encrypted in the blockchain. So this new function for Instagram should facilitate Share unique creations without fear of looting.

Gradually, the function will be introduced to more and more usersIt also uses Meta to do its new functionality. And so Adam Mosseri justifies not opening up the option to everyone: “One of the reasons we start small is to make sure we can learn from the community. We want to make sure we know how to manage the principles of distributed trust and distributed power, despite the fact that we are, yes, a central platform. “

It will soon be possible for Instagram members to view their collection of NFTs.  Photo: dead.
It will soon be possible for Instagram members to view their collection of NFTs. Photo: dead.

The first foray into Web3 for the general public

With NFTs on Instagram, the general public can see the announced effects of Web3 in concrete form. And to find out how owner data remains relevant to the business. By sharing the work of the NFT on the social network, the person maintains complete control over it. In fact, all the information that distinguishes it (owner’s name, creation date, etc.) remains encapsulated in the digital file.

It’s also a way for Meta to prepare for the upcoming launch of Metaverse. Thus, he gradually made the public aware of these new concepts. In a press release, Mark Zuckerberg’s group did not hide it. “By building support for NFTs, we aim to improve accessibility, reduce barriers to entry, and help make the NFT space more open to all communities.. “

Note that Meta is not the first social network to pay close attention to NFTs. Since January 2022, Twitter has allowed some of its members to use an NFT photo as their profile picture. But only subscribers of Twitter Blue, its premium version, have this ability.

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