Creators can now directly sell NFTs on Instagram

Different applications related to the concept of NFT, which is entering our lives more and more day by day, continue to be presented.

The concept of NFT is now well integrated into our lives. In this context, different applications continue to offer their own NFT supported programs Meta is significantly expanding its support for NFTs. During its Creator Week event, Meta announced that the company is now allowing some creators to create and sell digital collectibles directly on Instagram.

Creators can now directly sell NFTs on Instagram

meta to focus on NFT

Since last year, the platform has been experimenting with NFTs on Instagram and Facebook. However, Instagram users have only been able to showcase their digital collectibles up until this point. Instagram will now provide creators with an "end-to-end toolkit" that enables them to create NFT collections and sell them to their followers and fans.

This update is Instagram's first attempt to directly compete with existing NFT marketplaces. Meta says it won't take a cut of NFT sales until 2024, but app store fees will be taken out of sales by 30%. In addition, creators have the option of establishing a commission rate for resales of their works, which can range anywhere from 5% to 25%. Meta is significantly increasing its NFT support. The platform has been experimenting with NFTs on Instagram and Facebook since the previous year.