Meta has planned to start testing Non Fungible Tokens (NFTs) or unique digital items on Instagram.
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“This week we’re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram,” Adam Mosseri, head of Instagram tweeted.
The company will not charge any fees for posting or sharing a digital collectible on Instagram.
The social media company has also planned to roll out the same feature on Facebook in future. Users will also be able to display and share digital collectibles as AR stickers in Instagram Stories soon.
“Similar functionality is coming to Facebook soon, along with augmented reality NFTs on Instagram stories via Spark AR so you can place digital art into physical spaces,” Mark Zuckerberg, co-founder and CEO of Meta said in a Facebook post.
The new initiative is aimed at finding new ways for creators to make money.
The creator economy is very important to Instagram. Although there are a lot of ways available to help the creators make money, they are changing rapidly and are unpredictable, Mosseri said in a video posted on Twitter.
Instagram will test the feature within a small community and later bring it to more people with added functionalities in the feature.
