Meta-owned Instagram is planning non-fungible token (NFT) integrations for Ethereum, Polygon, Solana, and Flow, a CoinDesk report said. Reportedly, the pilot will feature a limited group of NFT enthusiasts based in the US.
This comes two months after Meta CEO Mark Zuckerberg said the company would support NFTs on Instagram. Instagram CEO Adam Mosseri last year revealed the company is exploring the space.
Instagram plans to support widely used crypto wallets such as MetaMask. CoinDesk reported that users would have to plug into their wallets, prove their NFT ownership and showcase them on their profiles. However, according to CoinDesk, Instagram will not charge users for posting and sharing NFTs, similar to what Twitter initially did for its hexagonal NFT profile pictures in January.
Meta’s first physical retail space
Meta has also revealed other plans, including the launch of its first physical retail space — Meta Store — today (May 9, 2022) at its campus in Burlingame, California. The retail space is for customers to purchase its virtual reality products as a “gateway to the metaverse,” the company said.