- Polygon and Meta collaborate to allow users to sell Polygon-powered NFTs on IG.
- “The value added to the creator economy is unmatchable,” states Polygon co-founder.
- Meta endeavors to help creators reach an audience and earn a living.
Polygon collaborates with Meta to enable Instagram users to create digital collectibles (NFTs) and sell them to fans and collectors. As such, Instagram users will be to use the Polygon blockchain to create their digital collectibles, showcase them, and sell them to their virtual communities via Instagram.
Polygon’s site reported that this venture with Meta would give creators a new way to engage with and monetize their fan communities.
According to Polygon co-founder Sandeep Nailwal, this move denotes a remarkable milestone in the evolution of Instagram’s existing NFT functionality and a natural next step to bring Web3 to the mainstream.
Additionally, 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
However, during the initial stages, Meta, which owns Instagram, announced that they would test these features with a small group of creators within the U.S. and then make them available to other countries soon.
Moreover, Instagram plans to integrate an end-to-end toolkit that can be used for the whole process of minting on Polygon, showcasing and selling NFTs both on and off the popular social media site.
The Meta site explains the primary motive behind this project. The site states:
At Meta, we’re building products to help creators reach an audience, grow their communities, and earn a living
Notably, Meta began testing digital collectibles feature on Instagram back in May by allowing U.S users to share NFTs they created or bought on Instagram. Subsequently, in late September, Instagram expanded this service to 100 countries while enabling U.S users to connect to their wallets, share digital collectibles, and automatically tag the creator and collector without paying any network fees.
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