Social media platform Instagram is set to introduce a number of nonfungible token (NFT)-related tools that will allow creators to mint, show and sel NFTs.
Concept images of Meta’s NFT interface for Instagram.
Support for video NFTs will also be added and metadata such as names and descriptions for select NFT collections will be pulled from NFT marketplace OpenSea.
Meta’s head of commerce and financial technology, Stephane Kasriel, said Meta won’t charge fees to create or sell NFTs until 2024, and blockchain gas fees for buyers will be covered by Meta “at launch” but didn’t clarify how long the launch timeline would be.
Cointelegraph contacted Meta for clarification on its commission and royalties structure but did not immediately receive a response.
Source: Cointelegraph
#NFT