The non-fungible token (NFT) market has fallen off a cliff, but that's not stopping Instagram from doubling down on digital collectibles. After a test launch in May, the app is expanding its NFT features to more than 100 countries across Africa, Asia-Pacific, the Middle East and the Americas.
Instagram users can include NFTs in their feed and messages, as well as in augmented reality stickers in Stories. NFT creators and collectors are automatically tagged for attribution. You can't buy or sell NFTs on Instagram just yet, but Meta has strongly hinted it's working on a marketplace.
As of today, Instagram now supports third-party wallets from Coinbase and Dapper, in addition to Rainbow, MetaMask and Trust Wallet. On top of the Ethereum and Polygon blockchains, it will also support Flow.
Meta CEO Mark Zuckerberg announced the expansion in (where else?) an Instagram post. He included photos of a Little League baseball card he had made of himself as a kid. A young Zuckerberg gifted it to his favorite camp counselor, Allie Tarantino, who now plans to sell both the signed card and an associated NFT. "On the back of his card, he put a .920 batting average — which is like impossible in baseball," Tarantino told the Associated Press. "So even as a little kid, he was aiming big.”
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Instagram users in over 100 countries will have a new function on the social media site allowing them to display NFTs.
Meta CEO Mark Zuckerberg announced today that the company is beginning its international expansion of NFT support on Instagram. The expansion follows the social network's initial NFT test launch in May. With this expansion, users and businesses in more than 100 countries in Africa, Asia-Pacific, the Middle East and the Americas will now be able to share their NFTs on Instagram. Prior to the expansion, the support was only available to select creators in the United States.
Italy created a special registry with its brokerage regulator in February to list crypto operators with a stable presence in the country, provided they meet certain requirements. Blockchain.com said in a statement it could now offer crypto and digital wallet services to Italian residents and institutional investors under the regulator, known as the OAM. Major exchanges Binance and U.S.-based Coinbase Global Inc, as well as Singapore-based Crypto.com and German investment platform Trade Republic, are among those to have already secured registration with the OAM.
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