Creators will be able to Buy, Sell, Mint NFTs on Instagram says Meta

The latest update about Instagram, the digital collectibles features will be tested among a few creators in the US.

Today, Meta has announced that People on Instagram will soon be able to buy or sell NFTs directly within the apps.

Meta has planned for introducing a number of new creator updates on Instagram and Facebook.  The most important update is that creators on Instagram will be able to create their own NFTs & sell those NFTs directly to anyone or fans within Instagram apps. 
Meta chooses Polygon as the first partner for this update & features.

Meta says the purchase of the NFT process will take through traditional in-app purchases across iOS & Android. Meta is now testing this feature with a few creators in the US and has a plan to expand it to other countries in the future nearer. Instagram also added support for Solana, and Phantom wallet which come as blockchain & wallets. 

Meta also says that Facebook is increasing access to stars, which allows creators to earn from followers on reels, videos & lives directly. The testing phase for automatic onboarding for creators represents the ability to send stars that appear on content automatically. 

Meta says that it will not charge any fees to display & share digital collectibles on Instagram & Facebook. And also it will never charge for selling any digital collectibles until 2024. Digital collectible purchases within Android or iOS OS will be subject to app store fees that are applicable.
Meta also adds that creators or collectors will never need to pay gas fees for these digital collectibles at launch on Instagram. 

Here the NFT creators can be able to choose their royalty percentage between 5% to 25%. Then they can add a bank account or any online account to get paid. 

In addition to the NFT updates, Instagram also expands access to subscriptions for all US creators who are eligible. 

Instagram with all these new updates tries to shore up itself against the threat of competition such as TikTok which attracts more creators each day. As Meta is building its metaverse, it may require support from creators, thus it is not a surprising update to broaden its offerings for creators.