The Instagram NFT Trigger is the first step in a revenue-generating strategy for content creators. However, this design is still in the early stages of formation. With millions of content creators and billions of users, Instagram hopes to turn NFT into a significant source of revenue.
According to Kevin Desk, Instagram, a social network owned by Meta (formerly Facebook), announced on Monday, after unveiling its “digital collections”, that it intends to turn NFT into a source of revenue for manufacturers of the platform, which has more than a billion users. You have to convert.
Instagram has not explained how to use this plan. Once the app is launched, Instagram will only allow a limited number of content creators to share their digital art on the platform. In addition, artists will not be able to sell or trade their works of art and will not be paid to publish their works.
It is worth mentioning that after the end of the trial period, the money (the process of buying and selling) also enters the cycle of this plan. On Monday, Instagram posted a job advertisement for a person who specializes in Chinese blockchain. According to the ad, the person should help Instagram explain its strategy and roadmap for creating new revenue-generating experiences based on Chinese blockchain technology.
According to this job posting, content creators can use China Blockchain technology to create meaningful and profitable communication with their fans. The task of the product manager will also be to help Instagram build such a connection.
John Victor, a strategist at launching cryptocurrencies for Web 3.0 and NFT, says millions of users on Instagram and other social media platforms now sell their goods and services in a business cycle for billions of dollars. They sell dollars to their followers.
He warned that not everyone is looking for NFT. He noted the negative reaction from Ubisoft gamers and the company’s failure to enter the NFT world earlier this year. This may partly explain the limitation of content producers in the Instagram pilot project.
Probably a small number of content creators will be associated with NFT. Of course, given the size of Instagram and its billions of users, this project is still a huge business proposition for Meta and its creators.
Referring to the NFT PFP market, Victor said:
You see organized communities around NFT; So it makes sense to extend this idea to content creators who build their communities.
Instagram did not elaborate on the monetization of tokens in the platform, citing recent remarks by Meta CEO Mark Zuckerberg. Zuckerberg recently said that Instagram needs to promote different ways in which content creators can make money. According to him, the issue of NFT could be one of these methods.
In recent months, senior meta-managers have paid special attention to the slogan “priority with content producers”. In a recent call in April, Zuckerberg stressed the need for creative plans to generate revenue and differentiate Instagram from other platforms.
Adam Moseri, Instagram’s manager, said in a video related to the introduction of this initiative:
One of the challenges we have to deal with as an industry is how to help content creators make a living doing what they love.
Musri explains that not everyone will use digital collections. According to him, only a subset of content creators who want it can take advantage of this opportunity and turn it into a useful and convenient way to make money.
One of these content producers is a street artist known on social media as Masnah.eth. To make money, he paints very large photos of NFT profiles for his clients next to buildings and shares them on Instagram.
The artist is still unsure if he wants to enter Instagram’s NFT-based economy. He believes it is not yet possible to predict how the plan will be implemented. That’s why he said on Twitter that it was too early to comment on the monetization of this method and that he needed to do more research.
However, he, who sells his street works like NFT, is still not convinced that he earns money from fake tokens on Instagram.
He goes on to say:
I don’t know why it should be in this plan [کسب درآمد از توکنهای غیرمثلی] Participate in Instagram. It really doesn’t make sense to me.
Instagram post Official unveiling of NFT Specials; Meta looking for a new market first appeared in Digital Currency.