Instagram will soon allow select creators to make and sell NFTs directly in its app • TechCrunch
Today, Meta announced that it is introducing a number of new creator updates across Instagram and Facebook. Most notably, the company revealed that creators on Instagram will soon be able to create their own NFTs and sell them directly to fans, both on and off Instagram. With this update, creators will have access to a toolkit that helps them create, display and sell NFTs. Polygon is the first partner chosen by Meta for this feature.
People on Instagram will be able to purchase NFTs directly within the app. Meta says the process will be via traditional in-app purchases across iOS and Android. Currently, Instagram does not take any part of the creator’s revenue. Meta is testing this new feature with a small group of creators in the US and plans to expand it to more countries in the future.
Instagram is also adding support for Solana blockchain wallet and Phantom, which joins Blockchain and wallets Which it already supports, including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, Dapper Wallet, Ethereum, Polygon, and Flow. In addition, information for selected groups where metadata has been enriched by OpenSea, such as group name and descriptions, will now be available on Instagram.
In addition to the NFT updates, Instagram is also expanding access to subscriptions to all eligible creators in the United States. social network Subscription testing started in January With a small group of creators. This feature allows creators to offer paid access to Instagram Live videos and stories. Subscribers also get a special badge that helps them stand out in the comments section and creator inboxes.
Meta also announced that Facebook is working to increase reach stars, which allows content creators to earn money directly from followers on Reels, live broadcasts and video-on-demand. Facebook will also start testing an automatic setup for creators, which means the ability to submit stars will automatically appear on their content. Facebook is also working to bring Stars into non-video content, such as photos and text posts.
For creators who already use Stars, Facebook is bringing Stars Party to reels. A star party is a challenge to the star community that ends with a celebration if the creator reaches their goal, says Meta.
The social network also provides Facebook content creators with more tools to interact with people who send Stars. For example, creators will be able to add a filter in the comment manager that displays all of the creator’s star comments in one place, giving creators the option to respond to multiple comments at once.
Meta has also announced that it’s giving away gifts on Instagram, starting with reels, to give creators a new way to make money from their fans. The new feature allows fans to send gifts on reels by purchasing stars within Instagram. Meta is testing this feature with a small group of creators in the US first, and plans to expand it to more creators soon.
In addition, the definition is Expand the professional mode profile setting On Facebook for all creators. Pro mode is designed to be used by content creators looking to monetize their social network followers. Facebook Test started Pro mode with select creators in December 2021 and is now showing it to anyone on their platform.
The new changes come at a time when Meta is investing in its creator user base, seeing the potential for a new revenue stream to come from things like creator subscriptions.
With these new updates, Instagram is trying to support its platform against the threat of competition, specifically from TikTok, which has attracted an increasing number of creators. And as Meta continues to build the metaverse, it will need to support creators, so it’s no surprise that it’s looking to expand its offering to creators.