A foot in Web3 for Meta. The US group, which owns Facebook, Instagram or WhatApp, announced the upcoming arrival of a new feature on Tuesday, May 10th. It will allow its users to post their NFT (Non Fungible Token) on their social wall. The first network to embark on the adventure will be Instagram. Facebook is following.
NFTs place a kind of certificate of authenticity on a unique digital file. This new concept can therefore be shared for free on social networks. Adam Mosseri, the head of Instagram, explains this in a message posted on Twitter. “This week we begin testing ‘Digital Collectibles’ with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG “he explains.
NFT on Instagram: instructions for use
The sharing of his or her visual works (photo, video, etc.) will follow the following process:
- First step: connecting to a wallet or digital wallet. Once linked, creators and collectors will be able to choose which NFTs from their portfolio they want to share on Instagram.
- Second step: sharing digital collectibles. Once a creator or collector posts a digital collectible, it will have a glitter effect to distinguish the post from others. And it will be possible to display public information, such as a description of NFT.
- Third step: automatic selection of the creator and collector. The creator and collector can be automatically assigned in the digital publication (depending on their privacy settings, says Meta).
Initially only NFTs held on Ethereum and Polygon blockchains will be compatible with Instagram. In another step, follow those stored on Flow and Solana. Note that the first compatible wallets will be: MetaMask, Rainbow and Trust Wallet. Three others have already been announced: Coinbase, Dapper and Phantom, but without a specific availability date. You need to link your wallet to your Instagram account in order to share your selected NFT (s).
With NFTs, traceability of ownership of a digital work
This new feature should therefore allow the owners of a digital work to better retain ownership. Or at least claim it in a simple and effective way, as the “ownership certificate” attached to the NFT is encrypted in a blockchain. This new feature of Instagram should therefore facilitate share unique creations without fear of being looted.
Gradually, the feature will be offered to more and more users, which Meta is used to doing with its new features. Adam Mosseri thus does not justify opening up the possibility to everyone: “One of the reasons we start small is to make sure we can learn from the community. We want to be sure that we know how to manage these principles of distributed trust and distributed power, despite the fact that we, yes, are a centralized platform. “
A first entry into Web3 for the general public
With NFTs on Instagram, the general public can more tangibly see the effects of the announced Web3. And to see how an owner’s data stays connected to a work. By sharing an NFT work on the social network, a person retains full control over it. In fact, all the information that characterizes it (owner’s name, creation date, etc.) remains encapsulated in the digital file.
It’s also a way for Meta to prepare for the upcoming launch of its metaverse. He thus gradually made the public aware of these new concepts. In a press release, the group of Mark Zuckerberg does not hide it. “By building support for NFTs, we aim to improve accessibility, reduce barriers to access to this universe, and help make the NFT space more open to all communities.. “
Note that Meta is not the first social network to be very interested in NFTs. Since January 2022, Twitter has allowed some of its members to use an NFT image as their profile picture. But only Twitter Blue subscribers, its premium version, have this option.