IG-NTF

Facebook and Instagram to support Polygon and Solana’s NFTs

Meta, the company of Mark Zuckerberg has announced a set of end-to-end tools that will let its users mine NFTs, on the Polygon blockchain.

They announced at Creator Week 2022, in which the social media company said it would allow its creators to make “digital collectibles” and sell them “both on and off Instagram.”

According to Meta, it will first a small group of selected creators in the USA are going to be able to test the novel features, make their digital collectibles, and sell them both on and off Instagram.

“Meta will not charge fees for producing or selling digital collectibles until 2024 and at launch, we will cover blockchain fees for buyers,” said Stephane Kasriel, director of business and financial technology at Facebook’s parent company.

Still, Meta has not announced how high the commission it plans to take from NFT sales beyond 2024 will be or what its royalty system for creators will look like.

The company led by Mark Zuckerberg already supports the Ethereum, Polygon, and Flow blockchains.

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