Meta announced today that it is introducing a number of new creator updates across Instagram and Facebook. Most notably, the company revealed that creators on Instagram will soon be able to create their own NFTs and sell them directly to fans, both on and off Instagram. With this update, creators will have access to a toolkit that will help them create, showcase and sell NFTs. Polygon is the first partner that Meta has chosen for this feature.
People on Instagram will be able to buy the NFTs directly within the app. Meta says the process will take place via traditional in-app purchases across iOS and Android. And for now, Instagram is not taking a cut of the creators’ revenues. Meta is testing this new feature with a small group of creators in the U.S. and plans to expand it to more countries in the future.
Instagram is also adding support for the Solana blockchain and Phantom wallet, which join the blockchains and wallets that it already supports, including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, Dapper Wallet, Ethereum, Polygon and Flow. In addition, information for select collections where the metadata has been enriched by OpenSea, such as collection name and descriptions, will now be available on Instagram.
In addition to the NFT updates, Instagram is also expanding access to subscriptions to all eligible creators in the U.S. The social network began testing subscriptions in January with a small group of creators. The feature lets creators offer their followers paid access to exclusive Instagram Live videos and Stories. Subscribers also receive a special badge that helps them stand out in the comments section and creators’ inboxes.
Meta also announced that Facebook is increasing access to Stars, which let creators earn money directly from followers on Reels, live and video on demand. Facebook is also going to start testing automatic onboarding for creators, which means that the ability to send stars will automatically appear on their content. Facebook is also bringing Stars to non-video content, such as photos and text posts.
For creators who are already using Stars, Facebook is bringing Stars Party to reels. A Stars Party is a Stars community challenge that ends in a celebration if the creator reaches their goal, Meta says.
The social network is also giving creators on Facebook more tools to engage with people who send Stars. For example, creators will be able to add a filter in Comments Manager that displays all of a creator’s Stars comments in one place, which will give creators the option to reply to multiple comments at once.
Meta also announced that it’s introducing gifts on Instagram, starting with reels, to give creators a new way to earn money from their fans. The new feature lets fans send gifts on reels by purchasing Stars within Instagram. Meta is testing this feature with a small group of creators in the U.S. first, and plans to expand it to more creators soon.
In addition, Meta is expanding its professional-mode profile setting on Facebook to all creators. Professional mode is designed to be used by creators looking to monetize their followings on the social network. Facebook began testing professional mode with select creators in December 2021 and is now offering it to anyone on its platform.
The new changes come at a time when Meta is investing in its creator user base, as it sees the potential in a new revenue stream that comes from things like creator subscriptions.
With these new updates, Instagram is trying to shore up its platform against the threat of competition, namely from TikTok, which has attracted a growing number of creators. And as Meta continues to build the metaverse, it’ll need the support of creators, so it’s not surprising that it’s looking to broaden its offerings for creators.
Instagram will soon allow select creators to make and sell NFTs directly in its app by Aisha Malik originally published on TechCrunch
Aisha Malik
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