{"id":11714,"date":"2022-11-04T22:10:00","date_gmt":"2022-11-04T19:10:00","guid":{"rendered":"https:\/\/alfacash.blog\/?p=11714"},"modified":"2024-02-19T21:50:13","modified_gmt":"2024-02-19T18:50:13","slug":"instagram-will-become-new-nft-marketplace","status":"publish","type":"post","link":"https:\/\/alfacash.blog\/cs\/2022\/11\/04\/instagram-will-become-new-nft-marketplace\/","title":{"rendered":"Instagram will become a new NFT marketplace"},"content":{"rendered":"<p>Non-Fungible Tokens (NFTs) have been a real hit since 2021, but now it seems like the interest is slowly fading away. Despite this fact, the popular social network <strong>Instagram is about to enable the creation and trading of NFTs for selected creators.<\/strong> Their main purpose is to provide \u201cnew and improved ways for creators to make a living\u201d on the platform.<\/p>\n\n\n\n<p>Until now, indeed, it was already possible for some users in around 100 countries to share their already-bought <a href=\"https:\/\/alfacash.blog\/cs\/2021\/04\/11\/co-jsou-nefunkcni-tokeny-nfts-proc-horecka-konecny-pruvodce\/\" target=\"_blank\" rel=\"noreferrer noopener\">NFT<\/a> on Instagram. The function let the users connect their wallets to view and share their collections there \u2014from <a href=\"https:\/\/alfacash.blog\/cs\/2022\/08\/03\/ethereum-2-0-special-the-merge-and-new-perspectives\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ethereum<\/a>, Flow, Solana, and Polygon. Now, it\u2019ll also be possible to create, buy, and sell NFTs from the last blockchain on Instagram.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udce3 Creator Week Announcements \ud83d\udce3<br><br>Today, we\u2019re announcing new and improved ways for creators to make a living on Instagram: <br><br>&#8211; Expanding Subscriptions <br>&#8211; Stars \u2b50\ufe0f &amp; Gifts \ud83c\udf81<br>&#8211; Buy &amp; Sell Digital Collectibles <a href=\"https:\/\/t.co\/XaE9XYLf9t\">pic.twitter.com\/XaE9XYLf9t<\/a><\/p>&mdash; Adam Mosseri (@mosseri) <a href=\"https:\/\/twitter.com\/mosseri\/status\/1588587559235776513?ref_src=twsrc%5Etfw\">November 4, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>This isn\u2019t available worldwide yet, <strong>but only for some users with professional accounts in the US.<\/strong> The sent NFTs are reviewed in <a href=\"https:\/\/help.instagram.com\/498634478827990\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">a process<\/a> that could last 48 hours, and, if passed, they can\u2019t be edited anymore. The Instagram team expects to expand this NFT feature gradually to other countries.<\/p>\n\n\n\n<p>In addition, as indicated by <a href=\"https:\/\/medium.com\/@skasriel\/how-blockchain-can-unlock-a-better-creator-economy-32ee37ab054e\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Stephane Kasriel<\/a> (Head of Commerce and Financial Technologies at Meta), they\u2019re preparing support for <a href=\"https:\/\/alfacash.blog\/cs\/2022\/01\/18\/co-je-solana-kryptomena-major-ethereum-konkurent\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solana<\/a> and Phantom and integrations with OpenSea and Arweave. Besides, Meta won\u2019t charge any minting fee until 2024, and it\u2019ll cover gas fees for buyers.<\/p>\n\n\n\n<p>All of this can be a major boost for NFTs and Polygon, given that Instagram currently counts around $1.4 billion users worldwide. Since the announcement, Polygon (MATIC) has increased by over 50% [CMC]. &nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>NFT trading decreases, but there\u2019s still interest<\/strong><\/h2>\n\n\n\n<p>The last DappRadar report discovered a decrease of 30% in <a href=\"https:\/\/alfacash.blog\/cs\/2021\/05\/08\/top-5-nejdrazsi-nfts-nekdy-prodane-datum\/\" target=\"_blank\" rel=\"noreferrer noopener\">NFT trading volume<\/a> during October, <a href=\"https:\/\/dappradar.com\/blog\/october-blockchain-industry-report\/#1.18-Million-unique-traders-enter-the-NFT-market\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">ve srovn\u00e1n\u00ed<\/a> to September. As they described it, this is the lowest amount registered this year. That\u2019s no wonder: previously, data compiled by Dune Analytics <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-28\/nft-volumes-tumble-97-from-2022-highs-as-frenzy-fades-chart\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">showed<\/a> <strong>a sharp decrease of 97% in NFT trading volume since its peak in January 2022.<\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"699\" src=\"https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-1024x699.png\" alt=\"Instagram-NFT-trading-volume\" class=\"wp-image-11720\" srcset=\"https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-1024x699.png 1024w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-300x205.png 300w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-150x102.png 150w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-18x12.png 18w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-264x180.png 264w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-754x515.png 754w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-744x508.png 744w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-370x253.png 370w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-554x378.png 554w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-306x209.png 306w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-359x245.png 359w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-260x178.png 260w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar-87x59.png 87w, https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/NFT-Trading-Volume-2022-by-DappRadar.png 1088w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>NFT Trading Volume 2022 by DappRadar<\/figcaption><\/figure><\/div>\n\n\n\n<p>Not taking those figures too seriously, supporters of digital collectibles persist worldwide. Beyond Instagram, they had an NFT London conference this <a href=\"https:\/\/blockworks.co\/web3-watch-new-opensea-security-features-and-londons-nft-vending-machine\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">past week<\/a>, even featuring their own NFT vending machine. It was possible to pay around $11 in exchange for pieces <a href=\"https:\/\/alfacash.blog\/cs\/2022\/01\/27\/nft-collections-games-follow-in-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">from collections<\/a> like Dr. Who Worlds Apart, Thunderbirds, and Delft Blue Night Watch. The proceeds will be donated to Giveth and Roald Dahl\u2019s Marvellous Children\u2019s Charity.<\/p>\n\n\n\n<p>Inside the online world, the new NFT collection <strong>Art Gobblers raised at least $20 million during its first 24h in the Blur marketplace<\/strong>. It\u2019s likely not the only project having success. If we check the <a href=\"https:\/\/coinmarketcap.com\/view\/collectibles-nfts\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">big tokens<\/a> related to NFTs now, we\u2019ll see they\u2019ve been increasing steadily during the last week, specially <a href=\"https:\/\/alfacash.blog\/cs\/2021\/12\/01\/krypto-sporty-velke-aliance-adopce\/\" target=\"_blank\" rel=\"noreferrer noopener\">Chiliz<\/a> (+27%), <a href=\"https:\/\/alfacash.blog\/cs\/2021\/11\/11\/hrajte-a-vydelejte-cryptos-axie-budouci-videohry\/\" target=\"_blank\" rel=\"noreferrer noopener\">Axie Infinity<\/a> (+22%), and <a href=\"https:\/\/alfacash.blog\/cs\/2022\/10\/07\/top-5-funniest-blockchain-games-rewards\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Sandbox<\/a> (+17%).<\/p>\n\n\n\n<p>Maybe that\u2019s why British lawmakers are looking now in this direction. Just recently, the UK Digital, Culture, Media and Sports committee (DCMS) <a href=\"https:\/\/committees.parliament.uk\/committee\/378\/digital-culture-media-and-sport-committee\/news\/174174\/dcms-committee-to-hold-inquiry-into-the-future-of-the-nft-market\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">ozn\u00e1mil<\/a> that they\u2019ll \u201chold an inquiry into the operation, risks, and benefits of NFTs and the wider blockchain\u201d. But it seems that more regulation is coming from there.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"has-text-align-center\"><em>Chcete obchodovat&nbsp;<\/em><em>BTC,<\/em><em> ETH, and other tokens? You can do it<\/em>&nbsp;<em>bezpe\u010dn\u011b&nbsp;<a href=\"https:\/\/www.alfa.cash\/buy\/bitcoin\" target=\"_blank\" rel=\"noreferrer noopener\">na Alfacash<\/a>A nezapome\u0148te, \u017ee o tom a mnoha dal\u0161\u00edch v\u011bcech mluv\u00edme na na\u0161ich soci\u00e1ln\u00edch s\u00edt\u00edch.<\/em><\/p>\n\n\n\n<p class=\"has-text-align-center\"><a href=\"https:\/\/t.me\/AlfacashCommunity\" target=\"_blank\" rel=\"noreferrer noopener\">Telegram<\/a>&nbsp;*&nbsp;<a href=\"https:\/\/www.facebook.com\/alfacashstore\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/a>&nbsp;*&nbsp;<a href=\"https:\/\/www.instagram.com\/alfacashstore\" target=\"_blank\" rel=\"noreferrer noopener\">Instagram<\/a>&nbsp;*&nbsp;<a href=\"https:\/\/www.youtube.com\/channel\/UCOl4fdRHj8AseQ5b6z9udaw\" target=\"_blank\" rel=\"noreferrer noopener\">Youtube<\/a>&nbsp;*<a href=\"https:\/\/twitter.com\/AlfacashStore\" target=\"_blank\" rel=\"noreferrer noopener\">Cvrlik\u00e1n\u00ed<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Instagram will enable the creation and trading of NFTs, while this market seems to be swinging. But there are some bullish signs!<\/p>","protected":false},"author":5,"featured_media":11724,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[47],"tags":[325,277,501,534,352,120],"class_list":{"0":"post-11714","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-trends-alfacash","8":"tag-cryptoart","9":"tag-nfts","10":"tag-polygon","11":"tag-social-media","12":"tag-united-kingdom","13":"tag-united-states"},"featured_image_src":"https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/Instagram-NFT-marketplace-trading.png","author_info":{"display_name":"Isabel P\u00e9rez","author_link":"https:\/\/alfacash.blog\/cs\/author\/isabel\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v25.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Instagram will become a new NFT marketplace - alfa.cash blog<\/title>\n<meta name=\"description\" content=\"Instagram will enable the creation and trading of NFTs, while this market seems to be swinging. 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