Instagram Will Soon Allow Users To Mint And Sell NFT On Polygon-powered NFT Marketplace

Instagram will soon feature a marketplace for NFTs, beginning with support for Polygon, in Meta’s latest push to grow into the crypto sector.

The functionalities are now available to a select set of creators in the United States and will be spread to other countries in the near future. Meta also stated that support for Solana’s Phantom wallet is now available and that information about OpenSea collections can now be seen on the platform.

A $100 billion creator economy cannot be achieved without a digital economy with higher mobility than today’s web services, according to Stephane Kasriel, Meta’s commerce fintech and Web3 head, in a blog post. Meta’s long-term goal is to help creators make a livelihood, and the business will not charge fees in its digital collectible marketplace until 2024, and it will pay any blockchain-related gas expenses.

Polygon co-founder Sandeep Nailwal stated:

“The value added to the creator economy is unmatchable and championing verifiable digital ownership on a platform with such reach will help us further our goal of onboarding the next billion users to Web3.”

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