Instagram NFTs: How it Works and New Opportunities for Creators
September 13, 2022
Mark Zuckerberg and Meta have been quite bullish on web3 and its impact on the digital world. The company is actively working on its own metaverse called Horizon Worlds, and a few days ago, the company announced that they are teaming up with other tech companies, including Epic Games, Adobe, Microsoft, and a few others, to create a Metaverse Standards Body.
On May 9th, 2022, Instagram CEO Adam Mosseri announced that NFTs are coming to Instagram and that they are testing the digital collectibles with a small group of US-based creators and collectors.
In August, Meta's CEO Mark Zuckerberg announced the expansion of digital collectibles to 100 countries through a post of his own signed old-little-league baseball card on Instagram, which will soon become an NFT.
According to the social media giant's announcement,
“We’re exploring a wide range of web3 technologies because we believe they will expand access, reduce costs, and accelerate innovation, empowering people and creators around the world. We are excited to continue listening to feedback from creators and collectors as we continue to build in this space.”
About Instagram's NFT feature
Facebook and Instagram users will be able to share their NFTs on their feeds by connecting their digital wallets to the app. In addition to Ethereum, Polygon, and Flow NFTs, the social media platforms also support third-party wallets including MetaMask, Rainbow, Trust Wallet, Coinbase Wallet, and soon Dapper Wallet. Instagram will confirm the ownership of the blockchain address associated with the digital collectibles to verify its ownership.
The NFTs on Instagram will be tagged as digital collectibles, which when tapped will display information about the NFT's creator along with the ownership of the NFT. Moreover, there are no fees associated with posting or sharing a digital collectible on Instagram.
Participating accounts will also receive a new NFT tab, with a tick in a hexagon showcasing verified digital collectibles owned by that profile depending on user's privacy preferences.
The Advantages of Instagram NFTs for Creators
With more than two billion active monthly users, Instagram can be a gold mine for digital artists worldwide to increase awareness of their NFT collections, generate traction, and build awareness about the NFT space.
Also, being able to integrate NFTs has made it possible for new things to happen, such as:
- The integration of NFT on Instagram and Facebook will provide a new opportunity for artists to showcase and monetize their work.
- The creators and collectors can be automatically tagged in the NFT post. Users can choose to enable or disable this option in their privacy settings.
- Meta will introduce more features and tools for creators to share their digital collectibles on their platforms, such as being able to share your NFTs as AR stickers in stories.
- No revenue cuts until 2024 gives an opportunity to creators to monetize their work on two of the biggest social media platforms without sharing a piece of the pie for 1.5 years.
- The NFT feature on Instagram will provide a lower barrier to entry in the web3 space and increase the accessibility of digital collectibles for the audience.
As per Meta:
Every day, creators inspire people and push culture forward around the world. With the incredible opportunity of blockchain technology, they can now leverage new tools to earn income, and fans can support their favorite creators by purchasing digital collectibles – art, images, videos, music, or trading cards – as non-fungible tokens (NFTs). Starting this week, select creators and collectors can share their digital collectibles on Instagram.
How to share your NFTs on Instagram
As per Meta, the digital collectible feature is currently being released for everyone, so you might not be able to see it for your account. However, the only way to find out if you're able to add your NFTs on Instagram is by updating Instagram to its latest version and checking for the digital collectibles option in your in-app settings.
If you're able to see the digital collectibles option, then you can import NFTs you own by connecting your digital wallet. To connect your crypto wallet, simply tap on the digital collectibles option and follow the instructions for connecting a wallet.
Once you successfully connect your crypto wallet, you can view all the NFTs you have in that wallet, which you can choose to share as a post by tapping the + icon and then selecting post. You can also add a caption to the NFT post before sharing it on your profile.
Once a user shares their digital collectibles, they will be tagged as the owner or creator of that specific NFT. Users can discover your NFTs in their feed, on your profile, and through Instagram's explore page depending on your privacy settings.
How to promote your NFT collection on Instagram
Share your NFT collection via stories
Stories can offer you a ton of creative freedom in terms of promoting your NFT collection. They allow you to put your digital collectibles front-and-center in your community members' Instagram feeds. Moreover, stories have tons of features and stickers, and new features are consistently being rolled out. So it’s a smart strategy to use these features and to stay up to date with these new features so you can reap the maximum benefits.
Focus on publishing more reels
If there’s a type of content that’s dominating Instagram right now, then digital artists have a good opportunity to display their digital collectibles through reels. An engaging reel can result in your audience learning the value proposition of your NFT collection. The options are endless. From using trending songs to creating an eye-catching teaser of your NFT collection, you can do a lot of things.
For example, from the making process to minting your product on an NFT marketplace, you can compile everything onto a reel and share it with your audience.
Collaborate with NFT influencers
Influencer marketing is a more authentic form of paid promotion. By working with NFT influencers, your NFT collection can give its brand a familiar face, and your collection can be shown to new audiences. The ideal influencer can generate the right kind of buzz for your NFT collection.
Cleverly use the right keywords in your hashtags
Hashtags not only help increase the discoverability of your content but also encourage the NFT owners of your digital collection to share posts related to your brand. For example, a brand-specific hashtag for your NFT collection can make it easier for people to find it and for users to make content about it.
Read more: How to do NFT marketing in 2022
Don't let the bear market stop you. Let's BuidL your next amazing NFT collection
After the explosive growth of NFTs for nearly one and a half years, the crypto winter has resulted in a massive drop in NFT sales. However, the downturn hasn't stopped the founders and developers who are bullish on web3 and we believe that the bear market is where value-driven projects and thriving communities can be built.
Schedule a call today to discuss your NFT marketing strategy!