Instagram Will Begin NFT Roll Out
WEB3 MERGE ON INSTAGRAM
Instagram is beginning its deep dive into the Metaverse by allowing content creators and digital enthusiasts to add their crypto wallets and digital wearables onto their accounts. The social media giant began rolling out this feature in May and saw a number of its users engaging and displaying NFTs on their feeds. The bridge between NFTs and Instagram is coming at a time where interest in cryptocurrency is at an all time high.
Meta, the parent company of Instagram, will allow people the ability to share their digital wearables and tag the creators linked in the making of these one-of-a-kind pieces. This feature will support Coinbase and Dapper as well as MetaMask, Rainbow and Trust Wallet.
the process for posting NFT by 9to5mac
BUILDING COMMUNITY THROUGH NFTS
Sophia Wilson, a photographer from the US, was among those who participated in the trial run. Vogue Business interviewed her after her trial run ended to which Wilson spoke heavily about inclusivity in the NFT world. “The NFT community has become a very white and male-dominated space, which we hate to see happen to another art space,” says Wilson.
As people become familiarized with the concept of NFTs, more people are wanting to create and own their own unique tokens. According to Exploding Topics, a survey found that 20% of US adults are “somewhat interested” in acquiring, investing in, or trading NFTs and about half of NFT holders are Americans.
HOW AUTHENTIQUE IS REVOLUTIONIZING NFTS
By implementing augmented reality features into the app, millions of Instagram users will be able to finally tap into the NFT market. The hype behind crypto will no longer be hype but be part of the everyday lives of millions of users on Instagram.
With this digital shift, digital wearables are more in demand. With higher demand comes higher need to make and sell digital creations. This is where the Authentique app comes into play. The Authentique app allows users to create NFTs of physical luxury goods sold during the point-of-purchase of the luxury item. The app allows users to store the NFT on the app thus creating a one-of-a-kind verifiable digital copy of the original physical item.
women using the authentique app
DIGITAL TWINS COMBATING COUNTERFEIT INDUSTRY
This type of verification is needed in a market desperate to combat the buying and selling of counterfeit products. A new study done by OECD.org found that about 3.3% of global trade comes from counterfeit goods and is on the rise. This issue is creating more waste and leading to a disastrous unsustainable trend further promoting climate change.
This push to embrace the Metaverse comes at a time when Instagram and its CEO, Mark Zuckerberg, are under scrutiny for implementing algorithms that value reels over static imagery. With the move to incorporate more meta-esque features, Instagram is hoping to monetise and build a community on the Metaverse with the integration of NFTs in the app.
