Following a few successful tests with chosen authors in the United States, Meta a Facebook company has revealed intentions to expand NFTs to 100 additional nations.
According to reports, Meta’s Instagram is launching an NFT function in 100 countries throughout Africa, Asia-Pacific, the Middle East, and the Americas. With these new developments, Instagram wants to link users to Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet after initially supporting Ethereum, Polygon, and Flow NFTs.
According to the information, there will be no costs connected with this functionality.
Blockchain-based Nonfungible token (NFT) use cases have increased in the previous 18 months, owing to their widespread acceptance. More individuals, creators, and companies may now promote their #NFTs on @instagram.
“The great bulk of it will be developed by ecosystem creators.”
Meta also stated in June that it is testing similar NFT functionality on Facebook in order to introduce digital collectibles to its two most popular social media platforms. In comparison, Facebook’s Monthly Active Users will reach 2.93 billion in April 2022.
Despite the fact that many companies are looking to promote the technology, NFTs have proven contentious, with many critics criticizing the speculative nature of the market and the environmental effect of Proof-of-Work blockchains like Ethereum, where the majority of NFTs are minted today.