Last year, Meta made the bold decision to begin allowing NFTs to be displayed and sold on both Instagram and Facebook, testing this feature with a select group of users. This was a risk on Meta’s part as no social media sites of that size had done that before. Now, months later, this risk appears to have paid off as artists flock to Instagram to make use of the new feature.
Instagram Sees Big NFT Success
According to reports, several prominent creators have launched their NFT collections on Instagram and these have gone on to sell out. For example, The Aku’s Dream Lab created by baseball star, Micah Johnson, reportedly sold out in about 11 seconds. As a result, marking a fine redemption arc following a disastrous NFT launch last year.
2023 is off with a BANG💥
The Aku’s Dream Lab digital collectible sold out in 11 seconds on @instagram‼️
The image is a preview of concept art for a significant location in Aku’s future & features various items that Aku gathered during his travels as a digital explorer on Earth. pic.twitter.com/uz614RiQbb
— Aku 👨🏾🚀 Akutars (@AkuDreams) January 8, 2023
Other creators like Drifter Shoots, Dave Krugman and the incredible Refik Anadol have seen similar success in marketing their collections to fans on the platform.
So, while Instagram continues rolling out these features, more and more users worldwide will gain access to its powerful tools. It is not unusual for popular NFT collections to sell out quickly on marketplaces like OpenSea, but having these assets listed on one of the biggest social media sites in the world is another thing entirely.
As access to NFTs becomes easier for hundreds of millions of people, we may see an increase in sold-out collections in the near future.
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Image credit via: Time
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Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.