Introducing Instagram’s newest feature

Instagram is the newest social media platform to join the NFT wave. Instagram users now have the option to add digital wallets to their profiles, which allows them to engage in transactions with other NFT holders on Instagram.  Since this can be done on the Instagram app itself, NFT holders now have the option to avoid using third-party services to sell their NFTs, bringing the possibility of avoiding gas fees when minting their NFTs. Creators now also have a new platform for them to sell their works, unlocking a new revenue stream for them.

How to connect a digital wallet to Instagram

Your digital wallet is added to your Instagram profile. To connect your digital wallet, you will have to select the ‘Edit Profile’ button, scroll down, and tap the ‘Linked Accounts’. You should then see an “Add Payment” option, where you will be able to select the cryptocurrency or NFT Wallet of your choice that you want to connect to your Instagram account. After you select your payment method of choice, you should receive instructions on how to link your wallet to Instagram. As long as you follow them, you will be able to use your digital wallet on Instagram to store your cryptocurrencies and NFTs. For a more detailed guide, have a look at the video below:

Posting NFTs to Instagram and Facebook

Previously, NFTs were only traded on dedicated cryptocurrency platforms such as Ethereum. Instagram’s move to include NFT trading through their app helps to integrate NFT trading into the wider social media market, introducing more people to NFT and the metaverse. It is thus much easier for everyday Instagram users to buy, sell or trade NFTs. Similar to how users upload images and videos onto the platform, users can also upload images of their NFT onto their accounts. They can also make use of hashtags to help people discover the NFTs that they own.

With NFTs gaining more and more traction, various platforms have included NFTs in their services. This includes Mastercard, who recently collaborated with hi to create a customisation service, allowing Mastercard holders to display their NFTs of choice onto their cards. We would like to take this opportunity to remind you that with greater collaborations comes greater risks. Do ensure the security of your card information and social media credentials before tying your NFTs to them. The value of NFTs can be very volatile, regardless of the platform used to trade them, so do remember to exercise caution when engaging in transactions as well. While Instagram’s move to include NFT trading will no doubt help NFT reach a wider community, we can only wait and see if this trend takes off.

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