The social networking giant company meta has recently unveiled its plans to sell the non-fungible tokens, popularly called NFTs on its subsidiary company Instagram. Facebook’s parent company meta has recently revealed its plan on Twitter.
The tech giant, Meta will execute this plan along with the NFT-selling platform Polygon and Instagram as the base of this project.
What is NFT?
The NFTs are considered nonfungible tokens that are unique artifacts that are created by any artistic or art-loving individual. The makers of these NFTs can sell or auction unique artifacts to get monetary benefits. These NFT makers can sell these creations as unique art pieces with the help of technology platforms like OpenSea and Polygon.
What are digital collectibles?
Digital collectibles are any pieces of NFTs that are created by any individual who has been using the social sharing application Instagram. The users will be able to create, share and sell their digital collectibles with the help of Instagram among all its peers, flowers, or interested parties of the NFTs.
The blockchain will be used for keeping records of the creation or sale of all digital collectibles on Instagram. The digital art creators will be able to create the digital collectibles as NFTs and then they will be able to sell these digital collectibles to almost all of their fans or followers through the Instagram platform as well and off the platform with other modes of integration like polygon crypto assets platform too.
People who enjoy some digital creations will be able to directly buy digital collectibles now with the help of Instagram. As of now, this feature has been made active for some digital creators in the US, but after this, the process will be rolled out to all the global digital creators too, as the next phase of program execution.
What is Polygon?
The Polygon company was established in 2017 with the name Matic networks in its inception days, which was rebranded to polygon in the year 2021. The company operates with an OxPolygon user id on Twitter, to share all of the company’s crypto growth in the day-to-day growth processes.
The company has been operating on the Ethereum base project for all of its crypto growth operations. The company is having its presence on major cryptocurrency trading platforms like Binance. The company is having multiple cryptos and digital products like Polygon Studios, Rollups, Polygon Miden, and more.
What is Solana?
Solana platform is considered to be made with the help of public blockchain technology and smart contract functionality and with the help of cryptocurrency SOL since its first paper presence in 2017.