Instagram started out as a photo and video-sharing app, but today it is much more than just that. It serves as a digital portfolio for artists and creators, and it gives the creators a platform to interact one-on-one with their consumers.
Presently, Instagram is only used to showcase collections. The feature to carry out transactions directly from the app is not yet available.
But Meta, the parent company of Facebook and Instagram, is planning to introduce this feature very soon. With this, the creators can link their digital wallets to the app and carry out transactions directly.
Meta is also planning to launch NFTs (Non-Fungible Tokens) on the app very soon. This will give creators a chance to create their own NFTs and sell them directly to people. This feature is being tested with a few select creators in the US right now. And then, Meta has plans to launch this in 100 other countries of the world. With this feature, the creators will gain access to an intricate toolbox. They can use this to create, portray and sell their NFTs. The app will have an in-built payment option for the NFTs, on both iOS and Android.
Meta has been talking about getting into this for a long time now and this will be the company’s first step toward entering the digital market space.
The company’s share in the payments is still unclear though, as is the percentage of commission that they will be charging from these creators.
Apart from this, Meta is also introducing a “Gifts” option for creators. In this, fans can send a gift to the creators while watching their reels. The fans have to purchase some Stars, which they can use to send gifts to the creators.