Meta, parent company of the social media platform Facebook, announced the expansion of its integration with NFTs. According to the company, more than 100 countries will now be able to add digital collectibles to Instagram.
Instagram has over 2 billion active users worldwide. Regions supporting expansion include the Americas, Asia Pacific, the Middle East and Africa. To link NFTs on Instagram, users must first connect a digital wallet to the social media platform to start posting their digital collectibles.
“As of today, we support connections to third-party wallets, including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet coming soon,” Meta wrote in a post.
Additionally, Meta announced that it will use the Flow blockchain, developed by CryptoPunks creator Dapper Labs. The blockchain will be used to allow individuals to post their minted assets on said blockchain on Instagram.
FLOW has increased by nearly 44% since the announcement, according to CoinGecko data. The token is trading at BRL 14.22, leading the cryptocurrency to register a 73% increase in 30 days.
However, as Flow goes up, Meta goes down. Meta’s share price is currently down 1.07% to $167. Meanwhile, Coinbase (COIN) jumped over 31% on the news.
In addition to Flow, the blockchains currently supported by Meta include Ethereum and Polygon.
The Meta change comes three months after the company began testing the integration of digital assets on Instagram.
Users can post non-fungible tokens (NFTs) as their profile picture, just like on Twitter. After the news, Mark Zuckerberg shared his personal NFT:
“In honor of expanding digital collectible NFTs to over 100 countries on Instagram and launching new integrations with Coinbase and Dapper I am sharing my future old NFT baseball card that someone recently found and sent me,” he said. .
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