Retail in Asia


Meta Introduces Digital Collectibles in Hong Kong to Showcase NFTs on Instagram

Last Friday, Meta announced the launch of ‘digital collectibles’ on Instagram in Hong Kong. The feature provides people, creators, businesses and collectors the ability to share their non-fungible tokens (NFTs) with other users. As a result, users can foster new connections and the local creative community can take advantage of the monetization opportunities.

SEE ALSO:Meta records its first-ever revenue drop

Meta began testing digital collectibles on Instagram earlier this year. The launch of the feature to 100 countries and regions including Hong Kong begins today.

The digital collectibles feature on Instagram allows people to:

  • Connect a digital wallet: Once connected, creators and collectors can choose which NFTs from their wallet they would like to share on Instagram.
  • Share digital collectibles: Once a creator or collector posts a digital collectible, it will have a shimmer effect to differentiate it from regular posts. It can display public information, such as a description of the NFT. Posts will also be visible on their profile.
  • Automatically tag both the creator and collector: The creator and collector can be automatically attributed in the digital collectible post (subject to their privacy settings).

To post a digital collectible, people simply need to connect their digital wallet to Instagram. Supported third-party wallets currently include Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet, with Phantom coming soon. Supported blockchains include Ethereum, Polygon and Flow, with Solana coming soon. No fees will be associated with posting or sharing a digital collectible on Instagram.

SEE ALSO: Tiffany & Co. is venturing into the world of NFTs with “NFTiff”

Businesses can also share their NFTs through Instagram’s digital collectibles feature to build new creator connections and foster community. Brands can promote digital assets that unlock exclusive experiences for loyal customers, serve as a seal of authenticity for products, or as a means to support creators that align with their business. The expansion of digital collectibles on Instagram is part of Meta’s work to improve accessibility, lower barriers to entry, and make the NFT space more inclusive to all communities.