Meta enables Instagram NFT integration in over 100 countries

According to a Meta editorial post updated on Thursday, the Mark Zuckerberg-led company has begun its non-fungible token (NFT) expansion in 100 countries across Africa, Asia-Pacific, the Middle East and the Americas. This includes adding support for wallet connections to Coinbase Wallet and Dapper, as well as the ability to publish digital collectibles mined on the Flow blockchain. The initial rollout is targeting the popular social media app Instagram.

One simply needs to link their digital wallet to Instagram to post NFTs, the company said in its updated post. Third-party wallet integrations with Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet are either complete as of Thursday or coming soon. Blockchains currently supported are Ethereum, Polygon and Flow. There are no fees associated with posting or sharing digital collectibles on Instagram.

Flow is a Tier 1 blockchain with its eponymous FLOW token acting as an auction for network participation, transactions and governance. Notable ecosystem partners include Warner Music, Ubisoft, the National Basketball Association, Ultimate Fighting Championship, Animoca Brands, Circle, Binance, OpenSea and now Meta.

Related: FTC files lawsuit against Meta for trying to monopolize the metaverse

Along with the metauniverse, digital assets seem to have become one of the core components of the expansion Meta. In the second quarter of 2022, the company’s revenue fell 1% year over year to $28.8 billion, while its operating income fell 32% to $8.36 billion over the same period. CEO Mark Zuckerberg said he was unfazed by the colossal $2.8 billion in losses at the company’s Metaverse division and that instead there was an opportunity to make “hundreds of billions” or even “trillions” of dollars as the sector matured.

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