Instagram Adds Support for NFT Sales, Gifts on Reels; Expands Subscriptions to Eligible US Creators

Meta Platforms on Wednesday said it was adding a host of new features to Instagram, including a tool to trade digital collectables, in a move that will help content creators monetize their presence on the social media platform.

Users can soon support creators by buying their non-fungible tokens (NFTs) directly within Instagram, the company said.

The new features will be tested with a small group of creators in the United States, the company said, and added that it plans to expand to more countries soon.

Meta has been rolling out more features for users to make money on its social media apps as it competes for talent with TikTok and others at a time when influencers are pulling in advertising dollars to these platforms.

In tandem with this push, Meta said it was expanding access to subscriptions on Instagram to all eligible creators in the United States to help them earn a more predictable income on the photo-sharing app.

It is also introducing gifts on Instagram, starting with Reels, so creators have a new way to earn money from their fan base.

The company is also launching a professional mode for Facebook profiles, which will allow creators to build a public presence while maintaining their personal Facebook profile.

Instagram was recently spotted testing a new feature that will allow its users to add a featured song to their profile page. The feature appears similar to the one offered by Myspace. According to a reverse engineering expert and software developer who spotted the feature, the song will appear on the profile page below the user's bio. Screenshots also suggest that visiting users are not allowed to play the featured song on the profile page, but this may change as the feature is developed by the company.

© Thomson Reuters 2022