Show your NFT on Instagram? It’s possible! That’s how it works (not)…

Great news: Instagram integrates the 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 the NFT, what smart contracts and blockchains Instagram supports. We also tell you what new NFTs you can expect on Insta soon. Finally, we share some pitfalls you should not fall into if you really want to enjoy your NFTs on Insta.

There are various applications of NFT. One is its use for digital art. This new market is becoming increasingly popular, but critics are wondering what exactly can be done with a piece of digital art. You can of course buy a nice digital picture frame so you can show off your NFT to your friends, but otherwise… The answer to the question of what you can do with it next…

Instagram integrates NFT

As we wrote about before, CEO Mark Zuckerberg has been hinting at NFT apps on Instagram for some time. Where until recently this seemed like a future, the company has followed suit. It was announced via Twitter that it is now possible in test mode to display your NFT on Instagram in a special post.

How does sharing an NFT work on Insta?

Through an extra secure connection, you can link your digital NFT wallet to your Instagram account and select which NFTs to display. When the selection is made, the NFT is displayed with a glowing effect as a post on the creator’s or collector’s profile. To this can be added public information about the NFT. Finally, depending on your privacy settings, you can 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:

What NFT wallets does Instagram support?

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

What blockchains does Insta support?

Instagram is also following a phased rollout for Blockchain support. At first, they will support the Ethereum (ETH) and Polygon (MATIC) blockchain. After release, support for Flow (FLOW) and Solana (SOL) will be added.

When can you show your NFT on Insta?

It is not yet clear when we can start ourselves. At the moment, 16 influential Instagrammers have been selected to test the apps. If these tests are successful, they want to introduce this promising feature as soon as possible. Of course, you can already follow the accounts of the selected testers to see the tests.

Finally, a Dutch question…

Yes, Instagram has confirmed that these features are free to use as far as they are concerned. You will not be charged for posting or sharing an NFT through Instagram. Of course, the miners will ask for a fee (gasoline) for the use of the blockchain.

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

You can expect these new NFTs on Instagram soon

Of course, when the testing phase is over and the features have also been rolled out in the Netherlands, you can share any NFT as long as you use Facebook-supported wallets and blockchains. We’ve seen big companies and brands bet on this trend before, so you can expect some new NFTs as well.

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

Also, we have already seen that football clubs like Manchester United are going to launch their own NFTs. We can add Arsenal to this list, because they announced that they will be partnering with Unagi, the creators of the Ultimate Champions game. Various NFT applications are being developed, such as exchanging player NFTs and in-game options to earn player NFTs.

Of course, in addition to these possibilities, there are also a number of dangers lurking. We set 3 traps in a row.

Beware of these NFT traps on Insta

In addition to all the beautiful things, there are also dangers that come with this new app. However, if you don’t fall for the following three NFT traps on Instagram, you can safely enjoy the new features.

  1. It does not offer the jackpot for an NFT to show. We see that there was a lot of hype around NFTs. People offered astronomical amounts for NFTs in the hope of higher profits. This turns out to be unpleasant. We could already see that in the NFT auction of the first Tweet of former Twitter CEO Jack Dorsey. CryptoPunk collection NFTs have also been sold at record prices in the past. Z released Cryptopunk #273, which sold for $1.03 million in October. This NFT went up for auction last Sunday. We’re guessing the owner had a good return in mind, but with the $139,000 profit, it must have looked ugly.
  2. Please do not unknowingly purchase crypto currencies connected to the blockchains that Instagram will support for NFTs. Right now, we are seeing live cryptocurrency prices drop sharply. The announcement of this news does not change that at the time of writing. Therefore, caution is advised when buying crypto.
  3. Don’t be fooled by the smooth talk of scammers and other scammers. As we have seen, Instagram is very clear about how the NFT publishing program is being implemented and which wallets and blockchains are supported. As with any new development, there will be sneaky guys (and gals) here who will promise you quick access or an easier link if, for example, you ‘just’ click the link or give them access to your wallet. Don’t do this because NFTs have value and these scammers want to take that value away from you. So educate yourself, for example, with these 5 tips to recognize crypto scams and always check the official Instagram communication before acting.

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.

Want to stay informed of the latest price changes?

You can always follow the developments yourself with our WANT crypto analyzes or feature articles and previews on the crypto market and Bitcoin. Of course, you can also follow live prices 24 hours a day if you want to stay informed in real time. Are you also interested in other investments besides cryptocurrencies? So our weekly price forecast on Monday morning may be some reading advice. †Note: We never provide financial advice, so you may not interpret our contributions in that way. Always do your own research and make rational decisions about if, when, what and how much you want to invest in.”

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Show your NFT on Instagram? It’s possible! This is how it works (not)…

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