Meta to Launch NFTs on Instagram, By Polygon | Tech Reddy
According to an announcement on Wednesday, the technical specialist Meta has planned to test the operation of the machine and the sale of NFTs on the social media platform ‘Instagram’. As with many traditional NFT markets, the company’s blog noted that a “small group of developers in the US” will be the first to enter the sector. In order to do this, it has partnered with Polygon, an end-to-end toolkit offered to developers to mine NFTs, alongside displaying and selling digital collections.
This development comes after Meta previously announced that it will allow its users to send NFTs across Instagram and Facebook platforms. At the time, the company announced that users can link their accounts to send NFTs specified on Ethereum, Polygon and Flow.
With this, the company expands Instagram’s NFT display platform, which was recently rolled out to users in more than 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas. This move comes on the heels of new ways for developers to earn money on Meta’s platforms, and increase productivity.
In addition, producers can produce digital collections of their own and sell them to fans, on and off the field.
Read: NFTs wouldn’t be the same without social media
On Monday, Meta also announced its plans to expand the rollout of the ‘professional mode’, which allows users to access certain tools and currency options, such as the tipping system of Coin Stars virtual.
Meta also added a ‘donate’ feature on Instagram, allowing fans to donate money to their favorite creators while watching their reels. The feature is currently being tested with some US manufacturers, similar to NFT manufacturing equipment.
The blog says, “Creators are using new technologies like NFTs to better manage their work, their relationships with their fans, and how they can make money. I Meta , we’re looking at what creators are doing across our technology to improve the experience, help them create revenue opportunities, and bring NFTs to a wider audience.”
What is a Polygon?
Polygon is one of the most well-known platforms for Ethereum integration and infrastructure development. Apart from this, other platforms include Solana, Polkadot, Fantom, LoopRing, and Flow. These are used to create blockchain games, NFT mints, and more.
Read: Polygon’s project is the AWS of Web 3.0
Polygon’s Dalip Tyagi told AIM that they are working with companies that make life easier for developers. “We are the last man standing, but we want to ensure that everyone in that value chain succeeds with us,” he added, the vision to be AWS of the Web3 it’s not far off. Dalip Tyagi said that they are likely to arrive early in most of their matches.