Meta Rolling Out NFTs to 100 Countries Worldwide… But Not Europe
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Meta Rolling Out NFTs to 100 Countries Worldwide… But Not Europe

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3 months ago

This is a significant milestone in bringing crypto collectibles to the masses, and for many who use Instagram, this will likely be the first time they come into contact with NFTs.

Meta Rolling Out NFTs to 100 Countries Worldwide… But Not Europe

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Meta's announced that it's rolling out support for NFTs to 100 countries around the world.

International expansion will take digital collectibles to Africa, Asia, the Middle East and the Americas.

But notably, it seems Europe has been omitted from these plans — perhaps a sign that ongoing regulatory scrutiny in the EU might be an issue.

Partnerships have also been struck up with Coinbase and Dapper, meaning Instagram users will be able to connect their wallets.

Other third-party wallets that are supported include Rainbow, MetaMask and Trust Wallet.

NFTs on three blockchains are now supported — Ethereum, Polygon and Flow — and Meta says there are no fees associated with posting or sharing a digital collectible.

This is a significant milestone in bringing crypto collectibles to the masses, and for many who use Instagram, this will likely be the first time they come into contact with NFTs.

Initially, Meta — which also owns Facebook and WhatsApp — had limited NFT functionality to a small number of American creators.

In an earlier announcement, the social network explained:

"By building support for NFTs, we aim to improve accessibility, lower barriers to entry, and help make the NFT space more inclusive to all communities. It is also important that we keep Instagram a safe and enjoyable place for everyone. Therefore, people can use our tools to keep their accounts secure and report digital collectibles which go against our community guidelines."

The environmental impact associated with the blockchains that power NFTs has long been a source of scrutiny, but Meta says it plans to mitigate this by purchasing renewable energy.

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