Meta Social media giant Instagram has announced that it will introduce a marketplace for non-fungible tokens (NFT) based on the Polygon blockchain.

announced Meta in a recent post:

Creators will soon be able to create their own digital collections on Instagram and sell them to fans both on and off Instagram.

According to Meta, users get a comprehensive toolkit based on the Polygon Blockchain.

The collection ultimately provides the possibility to create and offer for sale.

With this new feature, users can easily buy and sell NFT on Instagram by removing other middlemen.

While this new feature is already available to a small number of users in the US, Meta said it will roll out more widely in other countries.

The move falls within Meta’s goal of expanding the cryptocurrency ecosystem.

On September 29, Meta, the parent company of Facebook and Instagram, announced that Facebook and Instagram users in the US can now link their wallets and share their digital holdings.

Users of both platforms will be able to share their digital holdings and linked wallets on Facebook and Instagram, the company said.

Meta announced that it will no longer charge creators to market its digital collections. Instead, the company focuses on helping content creators expand their businesses.

As of the mentioned date, Meta plans to pay the gas costs associated with the blockchain network out of its own pocket.

Instagram has previously added support for Coinbase and Dapper wallets to complement its previous integrations with Rainbow, Metamask and Trust wallets.

Along with Instagram, Facebook’s NFT test is also being developed, with the NFT feature set to roll out to some US content creators in early July this year.

NFT helps build basic intellectual property, which is one of the key drivers expected to grow the sector to a value of $97.6 billion by 2028, according to a report by Research and Markets Platform.

Along with Meta, other social media platforms including Twitter and Reddit are taking their NFT engines to new heights.

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