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Meta announced today that it is introducing a number of new developer updates across Instagram and Facebook. Most importantly, the company announced that creators on Instagram will be able to create their own NFTs and sell them directly to fans, on top of Instagram. With this update, developers will have access to a toolkit that will help them create, display and sell NFTs. Polygon is the first partner Meta has selected for this feature.
People on Instagram can buy NFTs in the app. According to Meta, this will be done through traditional in-app purchases across iOS and Android. And now, Instagram does not take the products of the creators. Meta is testing this new feature with a small group of developers in the US and plans to expand to other countries in the future.
Instagram is adding support for the Solana blockchain and Phantom wallet, joining the blockchains and wallets it already supports, including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, Dapper Wallet, Ethereum, Polygon and Flow. In addition, information about selected collections enriched metadata by OpenSea, such as collection names and descriptions, will now be available on Instagram.
In addition to NFT updates, Instagram is also expanding access to subscriptions to all authorized creators in the U.S. The social network began testing subscriptions in January with a small group of the producers. The feature allows creators to give their followers access to exclusive Instagram Live videos and stories. Subscribers also receive a special badge to help them stand out in the comments section and inboxes of producers.
Meta also said that Facebook is increasing with Stars, creators can earn money from fans on Videos, live and video on demand. Facebook will also begin testing auto-optimization for creators, meaning the ability to automatically star their content. Facebook is also bringing Stars to non-video content, such as photos and text ads.
For creators using Stars, Facebook is bringing Stars Party to the reels. The Stars Party is a Stars community challenge that ends with a celebration if the creator reaches their goal, Meta said.
The social network gives creators on Facebook more tools to reach people who send Stars. For example, Creators can add a filter to the Comments Manager that shows all of the creator’s Star comments in one place, giving creators the opportunity to respond to multiple comments in the one time.
Meta also announced that it is introducing donations on Instagram, starting with reels, to give creators a new way to earn money from their fans. The new feature allows fans to post items on reels by buying Stars in Instagram. Meta is testing this feature with a small group of manufacturers in the US first, with plans to expand to other manufacturers soon.
In addition, Meta is expanding its professional-looking layout on Facebook to all manufacturers. Professional mode is designed to be used by creators looking to monetize their following on the social network. Facebook began testing professional mode with select developers in December 2021, and is now offering it to anyone on its site.
The new changes come as Meta invests in its developer user base, as it sees a strong new revenue stream that comes from things like developer subscriptions.
With these new updates, Instagram is trying to raise its platform on the threat of competition, even from TikTok, which has increased the number of creators. And since Meta is still building the metaverse, it needs developer support, so it’s no surprise that it’s looking to expand its developer offerings.
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