The Head of Instagram, Adam Mosseri, revealed Instagram's new feature for creators to show off NFTs - but people do not seem to be excited about the addition.
On Monday, Mosseri, 39, announced the new feature would be available for select users on Instagram starting next week. The feature is primarily for creators looking to share their NFT creations or people who enjoy collecting the digital tokens.
The addition comes in an effort to help the creator economy which Mosseri says is "incredibly important to Instagram." The hope is the addition of the feature will allow people to buy and sell NFTs associated with creators.
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NFTs on Instagram \n\nThis week we\u2019re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.\n\nSee you next week! pic.twitter.com/VuJbMVSBDr
While the announcement may be exciting for people passionate about NFTs, the response was mainly negative from Instagram users.
"Great.. and how are we supposed to promote our NFTs when we no longer have reach and not 10% of our followers can see our post?!," Zied said on Twitter.
"Please, please - stop with stuff like this! We don’t want it. Focus on the core of Instagram, stop cluttering the app," Ben replied
"The new changes are killing my account my reach dropped significantly in stories, feed and reels," a person commented.
Mosseri also said that there will be no fee associated with sharing or posting an NFT and the rollout will be slow in order to fix any issues they run into along the way and "learn from the community".
"I want to acknowledge upfront that NFTs and blockchain technologies, and Web3 more broadly, are all about distributing trust, distributing power," Mosseri said. "But Instagram is fundamentally a centralized platform, so there's a tension there."
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