Instagram, a popular photo-sharing and social networking platform is working to launch an NFT marketplace. NFT has been the hottest topic for a while, and most organizations dealing in art and creativity are exploring ways to monetize their new creations. Many companies have already launched their NFTs to help promote and encourage content creators.
Although Instagram has not confirmed officially the launch of its own NFT platform, as per Instagram CEO, Adam Mosseri, the company is exploring NFTs and ways to make them accessible for more audiences. The company may integrate the NFTs with this app and offer NFT related services.
As Instagram continues to develop NFTs, some predict that a paid subscription service for creators will become available within the next few months. Also, it may offer the same type of service as Patreon or OnlyFans, which both offer business tools to content creators to operate subscription-based services and earn revenue.
Customers pay to be subscribers to their preferred brands, celebrities as well as public figures. The possibility of implementing payments and tools for monetization for Instagram will allow the platform to market NFTs.
NFTs are changing how people interact with each other and giving creators of content more control over their earnings. it’s a brand new way to monetize creators and content producers. A content creator’s or influencer’s income is mainly derived from contracts for advertising with brands, and not the creation of his own products.
As the parent company of Instagram has changed its name to Meta, intending to make most of this new and rapidly going technology. The likelihood of Instagram bringing NFTs is pretty high. It will enhance the company by compensating the content creators.
Aurora has worked with a leading crypto news site as a Journalist. Aurora is working as Senior Journalist with Coinfea. She loves to travel in her free time.