A new feature being introduced by social media giant Meta will let creators produce their own non-fungible tokens (NFTs) and sell them straight on Instagram.
The NFTs are going to be issued on Polygon (MATIC), which has increased by 12.8% over the past 24 hours as a result of the news.
Soon, Instagram creators will be able to produce their own digital collectibles and sell them to fans both on and off Instagram.
They will have an all-inclusive toolkit that includes everything from creating (beginning on the Polygon blockchain) and exhibiting to selling.
By purchasing their digital artifacts directly from Instagram, people can effortlessly support their favorite producers.
According to the company, a new product that will let users express their gratitude to their favorite creators is now being evaluated in the US with a small group of producers.
After enabling the possibility for Facebook and Instagram users in 100 different countries to share their NFTs on both platforms, Meta is now launching the new feature.
The business made the disclosure during Creator Week, a campaign to support those who produce interesting content.
The 300 million people who identify as creators globally, according to Meta’s head of commerce and financial technologies Stephane Kasriel, will benefit from the growing usage of Web3 technology.
“We believe Web3 technology, including blockchain, will improve the economic model for creators by allowing them to produce new kinds of digital goods to monetize and enabling better and more sustainable ways for them to grow their businesses.”
