Instagram Adds Flow-Based NFT, FLOW Token Up 40%

Meta today announced that Instagram is expanding its NFT initiative internationally to over 100 countries. Moreover, the social network adds support for NFTs based on the Flow blockchain. The FLOW token reacted with growth against the background of this news.

Over the last day, FLOW is up almost 44% right after the last Meta announcement, according to CoinGecko. Its 30-day rise was almost 72%. At the time of writing, FLOW is trading at $2.76 per token.

Increasing Instagram integration allows collectors to showcase their Flow-powered NFTs. Meta first launched this feature in May for select US users, and the initiative has now expanded to Asia, Africa, and the Middle East.

Users can connect their crypto wallet to Instagram and choose which NFTs they want to show. In this case, the owner and creator are automatically indicated next to the asset.

Instagram Adds Flow-Based NFT, FLOW Token Up 40%

Flow is best known for sports NFT projects such as NBA Top Shot, NFL All Day and UFC Strike. In addition to supporting the Flow blockchain, Meta also announced the integration of Dapper Wallet and Coinbase Wallet as part of its growing support for Web3 on Instagram.

Instagram also plans to add Solana-based NFT support, which was announced in May. Facebook has also begun testing support for Ethereum and Polygon-based NFTs in profiles, and has also announced plans to add support for Flow and Solana.

Blockchain networks and NFTs are expected to become part of an open metaverse, and many are now developing technology to realize this vision. Mark Zuckerberg has hinted that he is interested in asset interoperability across his platform, but Meta has yet to reveal how open its metaverse will be.

However, his peers are not happy with the idea, as they believe that tech giants like Meta and Tencent are a “threat” to the open metaverse.

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