Instagram NFT Initiative Adding Support for Some 100 Countries

05.08.2022 09:57
by Aleksandar Đurić
2 min read

Instagram’s parent company, Meta, announced that the photo-sharing service is expanding its NFT support to more than 100 countries. Instagram first launched the initiative back in May for some users in the U.S., but is now also including countries in Asia, Africa, and the Middle East.

Thanks to this feature, users can connect crypto wallets and share their NFT collectibles on Instagram, with the NFT owner’s and original creator’s names both automatically displayed.

In addition, Instagram will also work with the NFTs originating on the Flow blockchain. Thus, Flow joins Ethereum and Polygon, which are already supported. There are also plans to include Solana NFTs in the future.

According to CoinGecko, the value of the FLOW token has immediately surged. Its current price is $2.96, which means it’s seen an almost 50% increase since the announcement. Users can now also connect a Dapper crypto wallet, created by the company behind Flow, Dapper Labs, as well as a Coinbase wallet.

It’s no secret that Meta is trying to conquer the Web3 space. It might be doing a bit too well, as the United States Federal Trade Commission (FTC) filed a lawsuit against Meta last week to stop it from monopolizing the market.

Author

  • An experienced journalist working in the film and video-game industries for many years. An enthusiast busy with learning new things about the world of crypto every day. Majored in English Language and Literature. Has a shrine in his apartment dedicated to Hidetaka Miyazaki.

Trending news