Instagram NFT Features Integrated Into Coinbase Wallet

Display of NFT features on Instagram. (Instagram blog)

JAKARTA – Mark Zuckerberg's company, Meta, was recently reported to have started releasing the NFT feature for the Instagram social media platform. Meta announces the launch will be in 100 countries.

The company, formerly known as Facebook, has integrated the new feature with digital wallets Coinbase Wallet, Dapper Labs, and Flow Blockchain. Previously, Meta had tested the NFT feature using the work of content creators in the United States.

The feature allowed the first batch of tests to post NFTs on Facebook. This comes after Instagram, another social media giant owned by Meta, began testing digital collections in May.

In late June, Meta announced that Instagram would start testing NFT in the Stories section with the help of the augmented reality platform Spark AR.

As is known, in October 2021, Mark Zuckerberg announced the rebranding of Facebook's name to Meta. This is aimed at the company's efforts to focus on developing its new business, namely the metaverse.

On the other hand, Zuckerberg's efforts have drawn criticism from the public. The reason is that the company is considered to have spent too much money to realize its ambition in developing an uncertain metaverse.

This also affects the performance of Meta shares whose value has decreased by half by 2022. In a CNBC interview, Zuckerberg predicts that the metaverse will be loved by the global community. He estimates that about a billion people will eventually join the metaverse.

Although Meta is starting to get serious about developing the metaverse, Ethereum boss Vitalik Buterin recently considered that Zuckerberg's company is not necessarily successful in realizing the metavers project.