One of the leading social media platforms, Instagram announced winding down its support for digital collectibles taking effect starting April 11, 2023. According to Instagram, “Wind Down” will not affect the content of users’ third-party digital wallets. However, it will impact posts, settings, and personal information.
“We’ll begin to delete digital collectible data in our systems including your wallet address. Data will be stored and deleted in accordance with our Privacy Policy and our Digital Collectibles Terms of Use,” Instagram said.
Meta’s Instagram in May 2022, disclosed intentions to support and integrate NFTs into its platform, highlighting it will render its NFT offerings for free. This move was in partnership with Polygon. In August, Meta announced the expansion of NFT Instagram integration to 100 more countries spreading across Africa, Asia Pacific, the Middle East, and the Americans. The development was aimed to connect users of the social media platform to Web3 features starting with NFTs.
Further, in September, Instagram allowed connecting and sharing of NFTs as posts on the platform. In Early November, Meta rolled out features that allowed Instagram to function as an NFT marketplace. Users can create and sell NFTs on Instagram starting with 0xPolygon, also, users can connect to Solana and Phantom wallets while accessing Opensea following that announcement.
After 11 months of integrating NFT, Instagram said it will wind down support for them which will affect digital collectible posts where users will no longer be able to create new digital collectible posts. Instagram added that any collectibles shared will remain as posts without any shimmer effect or blockchain information. “You can continue to delete these posts at any time,” Instagram said.
Also, Collectible posts that are only viewable in the digital collectible tab of users’ profiles will be moved to their archives.
For digital wallets and settings, Instagram said it will no longer maintain a connection or associate users’ accounts with their third-party digital wallets, and digital collectibles in the associated tab won’t be viewed or managed.
Access to or the ability to download information related to collectibles will be disabled. However, a request for download will be initiated at any time users will like to download information. Request for downloading information should be submitted before April 11, 2023, Instagram said.
Read also;
Layer2s fuel DeFi surge to $83.3B in Q1 – report
What do you think of this article? Share comments below.
