NFT on Instagram and Facebook
According to the social media giant’s announcement, it aims to expand its test “so that more creators around the world can post their NFTs on Instagram” and allow them to “earn money” on the platform.
CEO Mark Zuckerberg has confirmed that Facebook also plans to support NFTs in the future. He stated:
“We’ll soon be bringing this feature to Facebook as well – starting with a small group of US creators – so people can post to Instagram and Facebook. We’ll also be testing NFTs in Instagram Stories with SparkAR soon.
The company said creators and collectors “will be able to share their digital collectibles on Facebook and Instagram” after the feature rolls out to Facebook with select US creators at a later date.
A new digital product
Meta is also bringing Facebook Stars, a digital product that users can purchase and submit to support creators, for all eligible creators on Facebook Live, videos on demand. According to the announcement, Facebook Stars will soon be available on Facebook Reels. However, there are several eligibility criteria that a creator must meet to receive stars from their fans.
You must have at least 1,000 followers in the last 60 days and belong to one of the following markets: Argentina, Australia, Belgium, Brazil, Canada, Chile, Colombia, France, Germany, India, Indonesia, Italy, Malaysia, Mexico, New Zealand, Peru, Philippines, Portugal, Spain, Taiwan, Thailand, United Kingdom or United States. Creators must also respect Partner Monetization Rules and Content monetization policies to receive stars from users.
The company is expanding its Stars on Reels trial and will encourage hundreds of thousands more producers to use Stars on Reels in the coming months in addition to Facebook Live and video on demand.