Via Twitter, Meta Technologies, the parent company of Facebook and Instagram announced it’s updating its plans for the launch of non-fungible tokens (NFTs).

Menlo Park, California-based Menlo Park Holdings plans to make news on its plans to boost Instagram’s implementation of NFTs worldwide. 

Meta Newsroom confirms over 100 countries would be integrated from its Beta phase to enable more creators, businesses, and designers to showcase their NFTs on Instagram.

Meta previously announced that wallet connections would be coming soon from Meta Wallet with the Coinbase Wallet of Coinbase Global, Inc., and Dapper Labs, the parent company of the Flow FLOW blockchain. 

A Meta Wallet

On the Flow blockchain, users can publish digital collectibles minted on the platform, as announced by Meta. Users can then use a digital wallet to share these digital collectibles.  

Instagram now permits using Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet. The blockchains supported by Instagram are Ethereum ETH USD, Polygon MATIC USD, and Flow. Instagram does not automatically charge you for posting, sharing, or liking the tokens on Instagram.

“With the incredible opportunity of blockchain technology, they can now leverage new tools to earn income, and fans can support their favorite creators by purchasing digital collectibles — art, images, videos, music, or trading cards — as non-fungible tokens (NFTs)”  – Meta Technology

Meta Technology also sees the value of bringing augmented reality to its platform, allowing users to share their NFTs in Stories via the cultural platform Instagram. 

NFT Integration

With a rebrand to Meta Platforms and a focus on the growth of the metaverse, NFT integration for Instagram stories users could help Meta, led by Mark Zuckerberg, attract new users who want to share their owned collectibles.

In other news, BlackRock Inc. is partnering with Coinbase Global Inc. to make it easier for institutional investors to manage their digital assets.

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Will Meta’s partnership with Coinbase provide some relief for the US crypto-trading platform?

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