Instagram is launching NFTs in over 100 countries
The popular social platform Instagram has announced NFT support in more than 100 countries. The representatives of the company clarified that the new features will be available in countries in Africa, Asia-Pacific, the Middle East and the Americas.
The new features will allow users around the world to add and share their NFT collections. Prior to the expansion, NFTs were only available to select creators from the USA. The company announced NFT support on Instagram at the end of last year.
In order to add an art token, the user will have to connect a digital wallet. Wallets such as MetaMask, Rainbow, and Trust Wallet are accepted now. Coinbase Wallet and Dapper Wallet will also be added soon. The supported blockchains include Ethereum and Polygon. Flow and Solana blochains will also be added.
The representatives of the company noted that for now they will focus on three main functions. The users will be able to connect a digital wallet, share NFTs and automatically tag both a creator and collector for attribution.
Instagram will collect data from open blockchains and systematize them. This will allow determining exactly who the creator of the digital collectible is, and who has purchased it
Many other companies also intend to develop their NFT products. For example, crypto exchange Coinbase has launched its own NFT marketplace. However, due to the crypto market crash, this service could not manage to attract a large audience.
Coinbase has also signed an agreement with Mastercard, which will allow users to purchase NFTs via bank cards.
South Korean company Samsung Electronics has announced the release of a new smart TV lineup which will allow to sell and buy non-fungible tokens.