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Instagram is opening up its platform to NFTs, paving the way for mainstream visibility and getting closer to the promise of digital fashion wear.
After testing it in May, Instagram’s Digital Collectibles feature, which allows users to share NFTs to their feeds, will be rolling out to more than 100 countries, the Meta-owned company announced Thursday. People will be able to share images of their NFTs by connecting their crypto wallets and will be able to tag creators and owners. Coinbase and Dapper crypto wallets will now be supported, in addition to MetaMask, Rainbow, and Trust Wallet.
The feature will bring NFTs to a massive audience: Instagram reports around 2 billion monthly active users and sits well in the wheelhouse of fashion and beauty brands. These industries have started experimenting with NFTs, the community of which currently lives primarily on Twitter and Discord – a brand selling NFTs will get more reach and awareness on Instagram. Gucci, for example, has around 49 million followers on Instagram, but just over 56,000 on its Gucci Vault Discord server.
For creators and brands, more visibility means more education and potential monetization opportunities, says photographer Sophia Wilson, who participated in the trial, in part because of the instant increase in visibility and of commitment.
“The NFT community has become a very white, male-dominated space, which we hate to see come to another artistic space,” Wilson says. “If you’re just scrolling through Instagram and you see an NFT, it suddenly seems a lot less intimidating and you can grasp the concept of what it is.”
According to Insider Intelligence, only about a quarter of American adults are aware of NFTs, up 11% from a year ago, indicating the potential for increased interest in the technology.