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Meta revealed in an announcement today that it is introducing new creator updates across Instagram and Facebook. The company said that creators on Instagram will soon be able to make their own Non fungible tokens (NFTs) and sell them directly to fans both on and off the platform.
Creators will be able to utilise a toolkit to make, present, and sell NFTs with this update. Polygon is the first company Meta has partnered with to provide this service. On Instagram, people will be able to purchase the NFTs directly from the app.
NFTs will be available through normal in-app purchases on both iOS and Android. There has been no cut taken by Instagram for the creators' revenue for now. Meta is testing this new feature in the U.S. with a small group of creators and will expand it to other countries in the future.
Instagram is adding support for the Solana blockchain and Phantom wallets to its list of blockchains and wallets, which includes Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, Dapper Wallet, Ethereum, Polygon, and Flow. In addition, OpenSea metadata on certain collections, such as collection names and descriptions, will be accessible to Instagram users.
In addition to the NFT enhancements, Instagram will expand subscription access to all eligible creators in the U.S. Subscribers will now be able to access exclusive Instagram Live and Story content as part of the social network's initiative to expand subscription services.
Beginning in January, creators were able to test the feature by offering their followers paid access. Subscribers receive a special badge that helps them stand out in the comments section and creator inboxes as part of the subscription service. Facebook is expanding access to Stars in order to let creators earn money directly from their followers on Reels, live, and VOD content.
Facebook is also going to begin testing automatic sign-up for content creators, which will mean that Stars will automatically appear on their content. To make it easier for creators who are already using Stars, Facebook is introducing the Stars Party feature for reels.
When the creator reaches their goal, a Stars Party ends in a celebration, according to Meta. In addition to providing creators with more tools to engage with people who send Stars, Facebook is also including Stars to non-video content, such as photos and text posts.
In addition, creators will be able to filter comments in the Comments Manager so that all their Stars comments will be visible in one location, allowing them to respond to several comments at once. Meta announced that creators on Instagram could earn money by giving away a new type of reels known as gifts.
Fans may send these reels by purchasing Stars on them. Meta is testing this feature with a small group of creators in the U.S. first, with plans to expand it to more creators soon. In addition, Meta is expanding its professional-mode profile setting on Facebook to all creators.
Meta is expanding its professional-mode profile setting on Facebook to all creators. Professionals will use this mode to monetize their audiences on the social network. Professionals were first tested by Facebook in December 2021 and are now available to everyone on the platform.
The new changes come at a time when Meta is investing in creator users, as they see the potential in new revenue streams such as creator subscriptions. In an effort to fortify its framework against competitors like TikTok, Instagram recently launched a range of improvements. Additionally, as Meta continues to construct the metaverse, it will require the assistance of creators, and therefore it's not unlikely that it will augment its services for creators.