Show your NFT on Instagram? Is it possible! How it works (not) …

Big news: Instagram integrates NFT. The social media giant announced that it will allow you to share your NFT in an Instagram post. In this post, we tell you how Instagram will share NFT, which smart contracts and blockchains Instagram supports. We’ll also tell you what new NFTs you can expect at Insta soon. Finally, we share some pitfalls you should not fall into if you really want to enjoy your NFTs on Insta.

There are different uses of NFTs. One is its use for digital art. This new market is becoming increasingly popular, but critics are wondering what exactly you can do with a digital work of art. You can of course buy a nice digital frame for it so you can show your NFT to friends, but otherwise …? The answer to the question of what you can do with the next …

Instagram integrates NFT

As we wrote before, CEO Mark Zuckerberg has been suggesting uses of NFTs on Instagram for some time. Where until recently it looked like a future, the company has meanwhile followed suit. It was announced via Twitter that it is now possible in test mode to show your NFT on Instagram in a special post.

How does sharing an NFT on Insta work?

Via an extra secure connection, you can link your digital NFT wallet to your Instagram account and choose which NFTs to display. Once the selection is made, NFT is displayed with a sparkling effect as a posting on the profile of the creator or collector. Public information about NFT can be added here. Depending on the privacy settings, you can finally set up your Insta account in such a way that you and the creator / collector (depending on your role) are automatically tagged.

This, of course, raises a number of follow-up questions:

Which NFT wallets do Instagram support?

At launch, the wallets from Rainbow.me, MetaMask and TrustWallet will be supported. It also announces that it will soon provide support for CoinbaseWallet, Hellodapper and Phantom after launch.

Which blockchains does Insta support?

Instagram is also following a gradual launch in support of Blockchains. Initially, they will support Ethereum (ETH) blockchain and Polygon (MATIC). Following the launch, support for Flow (FLOW) and Solana (SOL) will be built-in.

When can you show your NFT on Insta?

It is still unclear when we can get started ourselves. Currently, 16 influential Instagrammers have been selected to test the applications. If these tests succeed, they want to introduce this promising feature as soon as possible. Of course, you can already now follow the accounts of the selected testers to see the tests.

Finally a Dutch question …

Yes, Instagram has confirmed that it’s free to use these features. They will not charge you for posting or sharing an NFT via Instagram. Of course, miners will ask for a (gas) fee for the use of the blockchain.

If you have more questions, you can read more about NFT on Instagram in this official corporate blog.

You can expect these new NFTs on Instagram soon

Once the test phase is over and the features have also been rolled out in the Netherlands, you can of course share any NFT as long as you use the wallets and blockchains that Facebook supports. We have seen large companies and brands focus on this trend before, so you can also expect some new NFTs.

Madonna announced that she will be launching her own NFT collection in collaboration with Beeple.

In addition, we have already seen that football clubs like Manchester United are going to release their own NFTs. We can add Arsenal to this list because they announced that they are collaborating with Unagi, the creators of the game Ultimate Champions. Various NFT applications are being developed, such as trading players ‘NFTs and in-game opportunities to earn players’ NFTs.

In addition to these possibilities, there are of course also a number of dangers lurking. We put 3 pitfalls in a row.

Beware of these pitfalls with NFT on Insta

Besides all the beautiful things, there are also dangers that arise with this new application. But if you do not fall for the following three pitfalls of NFT on Instagram, you can safely enjoy the new features.

  1. Does not offer the top prize for an NFT to show. We see that there was a lot of hype around NFTs. People offered astronomical amounts for NFTs in hopes of greater returns. This turns out to be ugly. We could already see it at the NFT auction of the first tweet by former Twitter CEO Jack Dorsey. The NFTs from the CryptoPunk collection have also previously sold at record prices. Z released Cryptopunk # 273, which sold for $ 1.03 million in October. This NFT went up for auction last Sunday. We assume that the owner had a nice return in mind, but with the dividend of $ 139,000 he must have looked ugly.
  2. Do not unknowingly buy the cryptocurrencies associated with the blockchains that Instagram will support for NFTs. Currently, we are seeing live cryptocurrencies fall sharply. The announcement of this news does not change it at the time of writing. So caution is advised when buying crypto.
  3. Do not fall for the slick talk of scammers and other scammers. As we saw, Instagram is very clear in how the NFT posting program is rolled out and which wallets and blockchains are supported. As with any new development, there will be smart guys (and girls) here who will promise you quick access or an easier link if, for example, you ‘just’ click on the link or give them access to your wallet. Do not do this because NFTs have value and these scammers are out to take this value from you. So read up on it, for example with these 5 tips for recognizing crypto scams and always check the official communication from Instagram before taking action.

We will of course continue to monitor developments and will continue to report on developments in special updates or as part of our regular Bitcoin and crypto updates.

Do you want to stay informed about the latest price developments?

You can always follow the development yourself with our WANTED cryptanalyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live prices 24 hours a day if you want to stay informed in real time. Are you also interested in other investments besides crypto? Then our weekly price outlook on Monday morning could be a reading tip. †Note: We never provide financial advice, so you can not interpret our contribution that way. Always do your own research and make rational decisions about whether, when, in what and how much you want to invest. ”

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Show your NFT on Instagram? Is it possible! How it works (not) …

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