Instagram begins testing NFTs starting this week

The initial testing on NFTs for Instagram will begin with a select set of creators in the US, beginning this week

On Monday, Adam Mosseri the head of Instagram announced in a video that they will start their initial testing on NFTs starting this week.

As announced by Adam in his post, starting this week a select number of users will have the ability to share NFTs that they have made or bought. Which they will be able to share on either their main feed, Stories or DMs. Additionally, there will be no fees associated with posting or sharing a digital collectable on the app.

In the statement posted on the platform, Mosseri mentioned that one challenging obstacle that the industry needs to solve is, to help creators make a living doing what they love. With this new step that Instagram has initiated, a subset of creators will stand to benefit.

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This Feature Will Include

• Connecting a digital wallet: Once connected, creators and collectors will be able to choose which NFTs from their wallets that they would like to share on the platform.

• Sharing Digital Collectables: Once the creator or collector posts a digital collectable, it will have a shimmer effect and will have public information like the description of the NFT displayed. The effect will set it apart from the rest of the posts.

• Automatic Tagging: The creator and collector; if their privacy settings allow will be automatically tagged on the digital collective post.

Talking about this beta feature and how they want to expand it, Mosseri added, "I’d want to state upfront that NFTs and blockchain technology are all about trust and power distribution. However, Instagram is a centralized platform, so there’s a conflict there. One of the reasons we’re beginning small is because we want to be able to learn from the community."

With Instagram's new initiative, they hope to make Web 3.0 technology accessible to a much broader range of people. This opportunity will not only be interesting and profitable to people who create NFT art but also to people who want to collect it.

Additionally, Mark Zuckerberg, CEO, Meta has also said that similar technology will soon come to Facebook and other Meta Family Apps.