Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Meta to Allow NFTs Operations Directly via Instagram

Sat 05 Nov 2022 | 09:49 AM
Omnia Ahmed

Meta is allowing creators on Instagram to develop their own non-fungible tokens (NFTs) and sell them directly to fans.

Through this update, creators will be able to access a toolkit that will help them create, showcase and sell NFTs. People on Instagram can buy the NFTs directly within the app. 

Meta revealed that the process will take place via traditional in-app purchases across iOS and Android.

Meanwhile, Instagram is not taking a cut of the creators’ revenues. 

Last week, reports showed that Instagram has surpassed 2 billion monthly active users worldwide, closing in on the 2.96 billion who use Facebook.

The tech giant disclosed the number during an otherwise-gloomy earnings report when a shaky ad market clouded Meta's forecast and sent its shares tumbling.

Furthermore, it pointed out that more than 2 billion people now use its messaging app, WhatsApp, every day. Meta's total number of monthly users for its apps reached 3.71 billion worldwide.