Meta partners with Polygon to introduce features that let creators mint and sell NFTs on Instagram.

Earlier this year, Meta unveiled new tools for creators to build businesses on Facebook and Instagram as part of its endeavor to reform its social media platforms in order to create stronger competitive advantages over TikTok and other competitors in the industry. One of the most significant features introduced is the option for creators to create their own digital collectibles on Instagram and sell them to fans, both on and off Instagram. Meta chose Polygon as its partner to launch this feature on Instagram. Accordingly, creators will have an end-to-end Instagram toolkit that can be used for the whole process, from creation, starting on the Polygon blockchain, to showcasing and selling NFTs both on and off Instagram. That way, people can also easily support their favorite creators by buying their digital collectibles directly within Instagram.

techbiz.network meta x Polygon to empower NFT on Instagram

In May, a small group of U.S. creators was first selected to test the features to share NFTs that they have created or bought on Instagram. By late September, the service had been extended to 100 nations and allowed all US Facebook and Instagram users to connect their wallets, share their digital collectibles and automatically tag the creator and collector without having to pay any network fees.

Polygon voiced their views on the partnership with Meta in a tweet:

“Polygon is proud to provide a robust infrastructure for Meta to launch this ground-breaking tool.”

Meta is the latest partner joining the list of global companies such as Stripe, Robinhood that choose Polygon as their entry point into Web3. Polygon is considered one of the most eco-friendly existing blockchains. The network is home to tens of thousands of decentralized apps powered by a suite of Polygon solutions, including Aave, Uniswap and OpenSea.

Last week, Polygon shared the statuses of the first selected creators announcing that they had begun experimenting with the new tool to mint and sell their NFTs directly on Instagram.

techbiz.network meta x Polygon to empower NFT on Instagram

“This move represents a remarkable milestone in the evolution of Instagram’s existing NFT functionality and a natural next step to bring Web3 to the mainstream,” said Polygon co-founder Sandeep Nailwal.

Thanks to this partnership, the native token of Polygon network, Matic, saw its price jump by more than 30% early this month. Following the FTX collapse that has affected the the whole crypto market, Matic’s price has also dropped but is still holding steady at the same level as before the partnership between Meta and Polygon was officially announced by Polygon on November 2.

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Meta partners with Polygon to introduce features that let creators mint and sell NFTs on Instagram.

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