Instagram users will be able to create and sell NFTs on the Polygon blockchain

Meta expands NFT features on Instagram with Polygon support.

Meta announced that users will be able to create their own NFT collections on Instagram. Initially, the option will be available on the Polygon blockchain.

Soon you’ll be able to make and sell #NFTs on @instagram, starting with @0xPolygon. You can also now connect to @solana and Phantom wallet, and see information about @opensea collection: https://t.co/aH8035Tk8n

Comment your #NFT below 👇 pic.twitter.com/dvHau9n9Yu

— Meta (@Meta) November 2, 2022

The company will provide users with a comprehensive toolkit to create, showcase and sell NFTs.

Meta tests new features with a small group of authors in the United States. The company plans to roll them out to other countries in the near term.

“For the first time, content creators on Instagram will be able to issue and sell digital collectibles directly in the app. Slowly, and then all at once!”, commented Mihailo Bjelic, co-founder of Polygon.

Another BIG one fam! 💫📢

We are announcing the next big step in our collaboration with @Meta — NFT minting on @0xPolygon!

For the first time ever, @instagram creators will be able to MINT and SELL digital collectibles, directly from the app!

Slowly, then all at once! LGF! 🔥 pic.twitter.com/qPe2quTMWQ

— Mihailo Bjelic (@MihailoBjelic) November 2, 2022

Meta expanded the capabilities for displaying NFTs on Instagram by integrating a video format. The company also allowed listing tokens issued on the Solana network and added support for the Phantom wallet.

Another new option is the ability to view metadata of OpenSea collections directly in the app.

Against the backdrop of the Meta news, the Polygon (MATIC) token rose 9.5% against the market over the last 24 hours (CoinGecko). At the time of writing, the coin was trading around $0.96.

Stefan Kasriel, head of Meta’s commerce, fintech and Web3 technologies department, additionally said about integrating the Arweave platform.

The co-founder and CEO of the project Sam Williams explained that this concerns the ability to permanently store Instagram NFTs on the blockchain.    

“Users can now issue digital collectibles for their posts, stored on Arweave”, added him.

📣 Major announcement: @Meta is now using Arweave to permanently store digital collectables from @Instagram.

Instagram users are now able to issue digital collectables for their posts, stored on Arweave.

Some thoughts 👇 pic.twitter.com/Y0xjhDwHid

— 🐘🔗 sam.arweave.dev (@samecwilliams) November 2, 2022

The project’s AR token reacted with a far more impressive rise than MATIC. In 24 hours, AR soared by 64.5%.

In May 2022, Meta began testing NFT support in Instagram for selected users in the United States. Initially, assets on the Ethereum and Polygon blockchains were available.

In August, the company expanded the pilot project to 100 countries and began integrating collectible tokens on Facebook.

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