Instagram Enters Web3 Space with NFT Integration Plans

Meta recently entered a partnership with Polygon to offer collectors and creators the chance to display digital collectibles on Instagram. With the collaboration, Instagram is also getting ready to enter the Web3 ecosystem.

It will allow users to create and sell digital collectibles to earn profits. In addition, the social media channel aims to incorporate NFTs from Solana, Flow, Polygon, and Ethereum. The networks were chosen due to their status and role in the NFT domain.

Mark Zuckerberg talked about the recent development as well. According to Mark, Meta has started developing its Reality Labs for NFTs while promoting them across its apps. The venture has also started testing digital collectibles to help collectors and creators display NFTs on Instagram.

The integration will soon be introduced on Facebook and similar apps as well. One of these apps is the Spark Augmented Reality software, and the integration will help creators use the software to release 3D NFTs over Instagram Stories. 

It seems that the NFT community is embracing Meta’s decision. A significant reason behind the support is Instagram’s popularity with one billion+ users. The social media network will also support wallet integrations, such as Metamask, which gives the NFT community significant hope.

The development will let customers showcase NFT ownership, display them on their profiles, and advertise them to a larger audience. Even Polygon released an official tweet about the development. Given the stature the involved parties hold, the integration will affect multiple industries.

Among them, NFTs, Web3, blockchain, and crypto are the primary domains to be affected. As a social metaverse company, Meta devotes substantial resources to building technologies that connect people, grow businesses, and find communities.

Its latest collaboration with Polygon is also a step towards these goals.