Instagram will allow you to sell and collect NFTs: the first test starts

Instagram continues to focus on NFTs , despite the fact that the digital collectibles market has been in deep suffering for several months (to the point that there are those who wonder if the craze is already over ). This time the social network pushes on the accelerator: Instagram will allow to sell and generate ( minting , in jargon) NFT.

All directly from the official application. In short, it would be a native-level support of NFTs – after all, Apple recently modified its policies to officially allow the exchange and sale of NFTs and cryptocurrencies on apps.

For the moment this is an experiment, waiting to understand if it can make sense to extend support to NFTs to all users. “A small group of artists and content creators”, explains a Meta executive, “will soon have the opportunity to create digital collectibles (NFTs) and sell them directly on Instagram”.

Instagram has known the names of some of the first artists who will participate in the pilot test, including DrifterShoots and Amber Vittoria .

Users will then be able to host and exhibit their NFT collections on Instagram. The social network will support the main wallets of the Ethereum , Polygon, Flow and Solana networks .

NFT stands for Non-Fungible Token, i.e. non-fungible tokens which – like cryptocurrencies – are issued and tracked using blockchain technology. NFTs are often tokens represented graphically by an image or multimedia content. NFTs have opened the doors to a new current of collecting and digital art. Between 2019 and 2020 we witnessed a real craze for NFTs, some digital works of art were sold for several million euros, on a par with traditional art. NFT’s most popular collection is the Bored Ape Yacht Club, a collection of 10,000 randomly generated cartoon-style monkey illustrations. Each of them has distinctive and unique features: there is no BAYC equal to another BAYC.