Meta to use decentralized data storage protocol Arweave to store NFTs from Instagram

Meta to use decentralized data storage protocol Arweave to store NFTs from Instagram

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Meta to use decentralized data storage protocol Arweave to store NFTs from Instagram

The Block3 months ago
NFTNFT
ArweaveArweave
PolygonPolygon
MetaMeta
Published on November 03, 2022 11:29 GMT+00:00edited on November 03, 2022 18:31 GMT+00:00

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Facebook parent Meta has integrated decentralized data storage protocol Arweave to permanently store digital collectibles from Instagram.

"Instagram users are now able to issue digital collectibles for their posts, stored on Arweave," Sam Williams, founder of Arweave, tweeted on Thursday. Meta's lead of commerce, fintech and web3, Stephane Kasriel, also confirmed the Arweave protocol integration in a separate tweet.

The price of Arweave's native token, AR, surged as much as 75% since news of the Meta integration, according to CoinGecko.

Earlier this week, Meta announced that creators will soon be able to make their own digital collectibles on Instagram and sell them to fans, both on and off Instagram. Meta will support different blockchains for NFT issuance, starting with Polygon and …