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Meta introduces new tools to help content creators monetize on Instagram

Users can soon support creators by buying their non-fungible tokens (NFTs) directly on Instagram.

By  Storyboard18Nov 3, 2022 2:21 PM
Meta introduces new tools to help content creators monetize on Instagram
Meta also plans to expand the access to subscriptions on Instagram to all eligible creators in the U.S. This is to support creators earn predictable income and connect more deeply with their most engaged. (Representational image via Unsplash)

Content creators will soon be able to make their own non-fungible tokens (NFTs, or digital collectibles) on Instagram and sell them to fans, both on and off the app. They’ll have an end-to-end toolkit — from creation (starting on the Polygon blockchain) and showcasing, to selling, said Meta, the American multinational technology conglomerate that owns Instagram. These features are rolled out with a small group of creators in the US first, and will be taken to other countries in the course of time.

Meta also plans to expand access to subscriptions on Instagram to all eligible creators in the U.S. This is to support creators earn predictable income and connect more deeply with their most engaged followers. The social app is also introducing gifts on Instagram, starting with Reels, so creators have a new way to earn money from their fan base.

Meta is also launching a professional mode for Facebook profiles, which will allow creators to build a public presence while maintaining their personal profile on the platform.

If these features bring success for the creators in the West, it will be a welcoming move for a hyper-social market like India in the near future. The Indian influencer economy has expanded to an INR 900-crore business. By 2025, it is expected to grow to INR 2,200 crore – a whopping CAGR of 25%, according to GroupM INCA’s India Influencer Marketing Report.

First Published on Nov 3, 2022 2:21 PM