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Meta Expands Instagram’s NFT Rollout to 100 Countries — Platform Connects With Third Party Web3 Wallets

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In a blog post titled “Introducing Digital Collectibles to Showcase NFTs on Instagram,” Facebook’s parent company, Meta, announced that the company has begun “international expansion into 100 countries.” The company also announced integration with certain Web3 wallets that support the Ethereum, Polygon, and Flow blockchains.

NFT support on Instagram will connect to 3rd party Web3 wallets and support 3 blockchains

  • Meta announced that the Instagram-hosted digital collectibles feature will be rolled out to 100 countries. Blog Post this was updated on August 4th. The meta elaborated that the rollout is starting in countries such as “Africa, Asia-Pacific, the Middle East, and the Americas.”
  • “In addition, we now support wallet connectivity with Coinbase Wallet and Dapper, as well as the ability to publish digital collectibles minted on the Flow blockchain,” the Meta blog adds.
Meta Expands Instagram NFT Deployment to 100 Countries - Platform Connects to 3rd Party Web3 Wallets
The Meta article “Introducing Digital Collectibles to Showcase NFTs on Instagram” was originally published on May 10, 2022, but the blog post has been updated. August 4, 2022 at 7:00 AM (Pacific Time).
  • The news follows Meta’s below-par quarterly earnings for the second quarter of 2022, and the company’s Metaverse division lost money. In addition, on July 30, the co-founder of Ethereum criticized the attempts of the enterprise metaverse and added that “everything that Facebook creates now will misfire.”
  • On Thursday, Meta said that, in regards to the rollout of non-fungible tokens (NFTs) on Instagram, “there are no fees associated with posting or sharing digital collectibles on Instagram.” The company also said it supports connecting third-party wallets to wallets such as Metamask, Rainbow, Coinbase Wallet, Dapper Wallet, and Trust Wallet.
  • “This feature includes connecting a digital wallet, sharing digital collectibles, and auto-tagging creator and collector,” summarizes the Meta blog post.
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  • The meta introducing NFT on Instagram followed Instagram CEO Adam Mosseri by mentioning that the social media app will implement the technology last year. Then, in mid-March 2022, Meta CEO Mark Zuckerberg stated that Instagram would bring NFT to the platform in the “near term.”
  • Instagram was founded in 2010 by Mike Krieger and Kevin Systrom and was acquired by Meta Platforms, officially known as Facebook Inc., in 2012 in a $1 billion cash and stock deal.
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What do you think about Meta expanding the Instagram NFT rollout to 100 countries? Let us know your thoughts on this in the comments section below.

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Credit : news.bitcoin.com

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