Throwback to March 2022, Zuckerberg, the CEO of Meta, stated, “We’re working on bringing NFTs to Instagram in the near term.
Fast forward to yesterday, November 2nd, when Meta announced during the Creator Week 2022 event that the social media platform would allow users to create, sell, view, and trade Non-Fungible-Tokens (NFTs) on and off Instagram!
In particular, users who want to create NFTs within Instagram can use an end-to-end toolkit offered by Instagram. Besides that, Meta chose Polygon as the functionality blockchain.
There are some details regarding the functionality’s launch that might concern a lot of people. Meta won’t charge fees to create or sell NFTs until 2024 and will cover all the gas fees until the “Launch Phase” ends, states Stephane Kasriel, Meta’s head of commerce and financial technology.
Additionally, video NFTs and Metadata support will be added and integrated via the famous NFT marketplace OpenSea. The date of the launch has yet to be revealed.