Social media juggernaut, Instagram has revealed that it would be supporting the integration of NFTs for four blockchain networks – Ethereum, Polygon, Solana and Flow.
This development by Instagram represents a major plus for the crypto industry. Ethereum is regarded as the biggest NFT network but has faced competitions from Solana and Flow who are also beginning to make a place for themselves in the sector.
It is unknown if instagram will offer all of these blockchains when this feature is launched, or if they will be integrated in a systematic manner. It is expected that the pilot will initially be tested by US-based creators before being opened to other regions in the world.
Instagram also plans to integrate popular crypto wallets including MetaMasks and will offer the service for free.
Major development for NFT adoption
Instagram already has its place as a hub for creators and integrating NFTs could spark a new wave of interest in the crypto industry. In the future, users will be able to display their NFTs on their profiles and tag artists who created them.
All this development shows the overall strategy of Meta which has already confirmed that its native wallet Novi will allow NFTs to be exchanged in its metaverse. Whatsapp has also begun Web3 integrations and revealed last December that it would be integrating crypto payments.
