Friday, June 9, 2023
HomeEthereumEthereum (ETH) Competitor Pumps Nearly 35% After Announcement of New Instagram NFT...

Ethereum (ETH) Competitor Pumps Nearly 35% After Announcement of New Instagram NFT Partnership

Layer 1 blockchains designed for non-fungible tokens (NFTs) are proliferating after being integrated into major social media platforms.

In a new announcement, social media giant Meta To tell NFTs created in the flow (flow) blockchain will start posting to Instagram’s new digital collections feed.

The flow is decentralized Ethereum (ethereum) Competitors tailored for games, app developers, and NFT creators.

The protocol builds functional improvements directly into the protocol layer that allow users to make payments and participate in the governance of the network. Ecosystem partners include brand names such as Warner Music, NBA and Ubisoft.

The news in the meta-announcement sent Flow’s native token vertical jumping 99% from $1.86 to $3.77 at one point before fixing it. At the time of writing, the altcoin is trading at $2.56, up 37% in the last 24 hours.

Back in March, Meta CEO Mark Zuckerberg first clearly That plan was underway for the photo-centric Instagram to incorporate NFTs into its platform.

and in May he Said Instagram will soon launch the NFT feature, after which Facebook and other apps under the Meta umbrella will start adopting it.

Cryptocurrency users can connect multiple wallets to their Instagram accounts and have the app automatically tag both creators and owners to share their digital collections. This feature is currently free for both posting and sharing.

In addition to Flow, Ethereum and Polygon (matic) blockchain is supported by Instagram.

meta last month announced The Novi crypto wallet has been abandoned, stating that it will apply to future products.

Don’t miss the beat – apply To get encrypted email alerts delivered directly to your inbox

check price action

Please follow us twitter, Facebook When telegram

surfing The Daily Hodl Mix

Check out the latest news headlines


Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Nadiia_Semyroz/Sol Invictus

- Advertisment -
Google search engine

Most Popular

Recent Comments