Instagram adds support for NFTs

Meta Platforms announced on Wednesday that it would be bringing a variety of new services to Instagram, including a mechanism to trade digital collectibles, in an effort to help content producers monetise their social media presence.

The business said that users will soon be able to support creators by purchasing their non-fungible tokens (NFTs) directly within Instagram.

The new features will be tested with a small group of creators in the United States, according to the business, which added that it wants to expand to additional nations in the near future.

Meta has been adding new ways for users to earn money on its social media apps as it competes with TikTok and others for talent at a time when influencers are driving advertising dollars to these platforms.

In conjunction with this initiative, Meta announced that it was extending access to subscriptions on Instagram to all eligible creators in the United States in an effort to help them make a more stable income on the photo-sharing app.

It is also providing presents on Instagram, beginning with Reels, so that creators have a new option to generate revenue from their fanbase.

Additionally, the business is developing a professional mode for Facebook profiles, which will enable artists to have a public presence while preserving their personal Facebook page.

Recently, Instagram was discovered testing a new profile page feature that will allow users to post a featured music.

According to a reverse engineering expert and software developer who identified the functionality, the music will be shown below the user's bio on the profile page.
Screenshots also indicate that visitors cannot play the featured song on the profile page, but this may change as the firm develops the service.