Earlier this year, Instagram started testing non-fungible tokens or NFTs for a limited number of US users. But if you live elsewhere and want to jump on the bandwagon, rejoice! From now on, you can buy and sell NFTs on Instagram in 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas.
Magnum Photos has joined the NFT craze and announced its very first collection. The renowned photoagency celebrates its 75th anniversary this year, and the collection is a part of the celebration. As you can imagine, it contains plenty of incredible photos from Magnum’s archive. And that’s not all – it’s only the first out of three NFT collections planned to be released this year.
Non-fungible tokens or NFTs still seem to be all the rage. It probably comes as no surprise that Meta wants to be a part of it, so from now on you can buy and sell NFTs on Instagram.
The new feature has been released as a test for some users in the U.S. As Meta CEO Mark Zuckerberg announced, NFTs will become available on Facebook soon, too. This way, creators can offer their work, collectors can buy it, and Instagram gets yet another purpose that’s not photography.
From a photo-sharing platform, Instagram has almost become everything but one. So maybe this doesn’t come as a surprise – non-fungible tokens (NFTs) are soon to come to Instagram and join a bunch of non-photographic options that are already there.
This information is not merely a rumor. Meta CEO Mark Zuckerberg recently confirmed it, saying that NFTs are coming to Instagram over the next several months.
Earlier this year, the Associated Press (AP) joined the NFT craze with its own marketplace. But, a recent video clip offered in the marketplace caused so many negative reactions that AP decided to cancel the sale.
The video shows migrants in an overcrowded boat in the Mediterranean. After posting the NFT for sale, the AP came under fire over “profiting from suffering.”
An auction house based in New Zealand sold two historically significant glass plate negatives as NFTs and allegedly encouraged the buyers to smash the originals in order to increase the value of the NFT.
The photographs were of the artist Charles Goldie who was well known for his Portraits of Maori elders. The photographs were taken by Rupert Farnall and date back to anywhere between 1910 and 1920. Webb’s auction house based in Auckland listed the plates as NFTs on the platform OpenSea, and included a framed contact print of the image and the original glass plate negative presented in a custom-built pine box.
Never-before-seen concert photos of Nirvana from 1991 will go on sale as NFTs on February 20th, Kurt Cobain’s birthday. News of the release, however, has garnered much anger and backlash from Nirvana fans, accusing the photographer of cashing in and exploiting the dead singer. The photographer, Faith West responded to the criticism on social in an attempt to appease the livid music fans.
The Social Media company Meta is apparently exploring the possibility of enabling users to make, showcase and sell NFTs from Facebook and Instagram in the near future. If this goes ahead, this would be possibly the first mainstream endorsement of NFTs.
According to a Financial Times report, the plans are “at an early stage and could yet change.” Teams at both Facebook and Instagram are “readying” themselves to implement the new feature that will let users mint new NFTs as well as display them as their profile image.
A 22-year-old Indonesian student has become a millionaire virtually overnight by selling five years’ worth of selfies as NFTs. Sultan Gustaf Al Ghozali from Semarang, Indonesia, uploaded over a thousand images to the NFT platform OpenSea. The images were originally priced at just $3 each.
Non-fungible tokens (NFTs) seem to be all the rage right now. The Associated Press (AP) has decided to jump on the bandwagon, so it’s soon launching its own NFT marketplace. It will offer collectors the opportunity to buy NFTs of iconic AP images, including some Pulitzer Prize-winning ones.