Get All Access for $5/mo

Instagram will start testing so that users can monetize by sharing NFT's in their accounts The pilot program will start this week in the United States and could soon be expanded to other platforms such as Facebook.

This article was translated from our Spanish edition.

Getty Images

This week Instagram will begin testing some content creators in the US, allowing them to display and share NFTs they've created or purchased. According to Adam Mosseri , director of Instagram, this will allow the platform to start exploring new tools that can help content creators earn money using the social network. At the moment there will be no fees or commissions associated with collectible tokens on Instagram.

In a video uploaded to his Twitter account , Mosseri explained: "Creators are incredibly important to Instagram. One of the things that we have to figure out as an industry is how to help creators make a living doing what they love. There are many ways for creators to earn money today, but many of them are unpredictable and rapidly changing. We think a particularly interesting idea for a group of creators is NFT's".

Mosseri also referred to the difficulties involved in being a centralized platform ( NFT's marketplaces are usually decentralized platforms in which the sellers have control): "I want to recognize in advance that NFT and blockchain technologies have to do with distributing trust and distribute power, but Instagram is fundamentally a centralized platform, so there is a tension there. One of the reasons we start small is that we want to make sure we can learn from the community. We want to make sure that we find a way to embrace those principles of distributed trust and distributed power, even though we are, yes, a centralized platform. We believe this is one of the unique opportunities we have to make Web3 technology accessible to a much broader range of people. And specifically, we think that NFTs will be interesting not only for creators who create NFT art, but also for people who want to collect it."

For his part, Mark Zuckerberg also posted about it and mentioned that the functionality will also be developed soon for Facebook and other apps developed by Meta. In addition, he explained that they will begin to experiment with NFT's and augmented reality.

Entrepreneur en Español

Entrepreneur Staff

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Making a Change

Invest in a Lifetime of Learning for $100

Skill Success features a wide variety of e-learning courses on business, finance, and more.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Devices

This Car Dash Display Is Only $90 Through June 26

Compatible with Apple CarPlay and Android Auto, this display is designed to make your commute safer.

Side Hustle

Top Secrets to Starting a 6-Figure Etsy Side Hustle That Earns Passive Income, According to 3 People Who Did It

Etsy remains a popular ecommerce platfrom for sellers — and can be incredibly lucrative for those who know how to use it.

Thought Leaders

10 Simple, Productive Activities You Can Do When You Aren't Motivated to Work

Quick note: This article is birthed out of the urge to do something productive when I am not in a working mood. It can also inspire you on simple yet productive things to do when you're not motivated to work.

Business News

Amazon Is Thinking About Charging Extra for AI Alexa

"Hey Alexa, how much are you going to cost?"