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Metaverse News Europe


Instagram's embrace of NFTs will be game-changer, boosting mainstream awareness

8/9/2022

1 Comment

 
After a test in May, Instagram is rolling out a feature that lets users share their NFTs and connect their crypto wallets, with AR fashion on the roadmap.

Instagram is opening up its platform to NFTs, paving the way for mainstream visibility and moving closer toward the promise of digital fashion wearables.
After testing it in May, Instagram’s Digital Collectibles feature, which allows people to share NFTs on their feeds, will be rolled out to people in more than 100 countries, the Meta-owned company said on 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. Crypto wallets Coinbase and Dapper will now be supported, in addition to MetaMask, Rainbow and Trust Wallet.
The feature will bring NFTs to a massive audience: Instagram reports an estimated 2 billion monthly active users and is well within the wheelhouse of fashion and beauty brands. These industries have begun experimenting with NFTs, whose community currently lives primarily on Twitter and Discord — a brand selling NFTs will get more reach and awareness on Instagram. Gucci, for example, has about 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 monetisation opportunities, says photographer Sophia Wilson, who participated in the trial, in part because of the instant increase in visibility and engagement.
“The NFT community has become a very white and male-dominated space, which we hate to see happen to another art space,” says Wilson. “If you’re just scrolling on Instagram and you see an NFT, suddenly it looks a lot less daunting, and you’re able to grasp the concept of what it is.”
Only about a quarter of US adults are familiar with NFTs, up 11 per cent from a year ago, according to Insider Intelligence, indicating the potential for increased interest in the technology.
Full story here
1 Comment
John Stanley link
12/19/2022 10:39:05 pm

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  • Home
  • News
  • ShortListed Companies
    • Nomination: AI Use Cases
    • Nominations
      • Top Global Event
      • Top Metaverse Platform & Virtual World
      • Top VC or Accelerator
      • Top Blockchain Developer Services Provider
      • Most Impactful Marketing Advertising Campaign
      • Most-promising Corporate VC Investment
      • Top Corporate Partnership
      • Top Legal Firm for Metaverse/Web 3.0 businesses
      • Top Avatar Design Company
      • Top Digital Twin Initiative Enterprise
      • Top Digital Twin Initiative Consumer
      • Top Cloud, Enterprise or Technology Partner
      • Top Partner for establishing early-stage presence in Metaverse
      • Most Innovative NFT Project
      • Top 3D Design Firm for Metaverse
      • Top Fashion Brand Initiative
      • Top Consumer Experience & Entertainment
      • Top Sports Brand Initiative
      • Top Enterprise Productivity initiative
      • Top Digital Payments platform
      • Most Exciting Scale-up Company
      • Top XR AR VR Firm
      • Most Exciting Hardware for Metaverse/Web3
      • Most Promising Haptics Initiative
  • 2023 Summit & Awards
    • VIP Jury
    • Agenda
    • Venue
      • Hotel Reservation
    • Tickets
      • Pay via Credit Card
  • Exhibitors
  • Contact
    • Sponsorship Options
    • FAQs
    • Brella Event App & Networking
    • 2022 Event
      • VIP Jury
      • Agenda 2022
      • Photos 2022
      • Videos 2022