{"id":2606,"date":"2023-01-12T10:56:23","date_gmt":"2023-01-12T10:56:23","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/01\/12\/nfts-on-instagram-prove-popular-as-top-artists-sell-out-projects-in-seconds-nft-news-today\/"},"modified":"2023-01-12T10:56:23","modified_gmt":"2023-01-12T10:56:23","slug":"nfts-on-instagram-prove-popular-as-top-artists-sell-out-projects-in-seconds-nft-news-today","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/01\/12\/nfts-on-instagram-prove-popular-as-top-artists-sell-out-projects-in-seconds-nft-news-today\/","title":{"rendered":"NFTs on Instagram Prove Popular as Top Artists Sell Out Projects in Seconds – NFT News Today"},"content":{"rendered":"

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Eight months after Instagram began testing the sharing of digital collectibles on its platform, NFTs on Instagram are proving a massive hit. Top artists, including Micah Johnson and Drifter Shoots<\/a>, have been able to launch and sell projects on the platform in seconds, creating optimism within the NFT community.<\/p>\n

The platform enabled <\/a>a select group of users to showcase their NFTs last May. Top creators recognized this opportunity and took advantage of it, showcasing their works to a larger audience of Web3-curious consumers. As a result, the success of the feature encouraged Instagram to allow a select group of digital artists to mint and sell their creations on the platform.<\/p>\n

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2023 is off with a BANG\ud83d\udca5
The Aku\u2019s Dream Lab digital collectible sold out in 11 seconds on @instagram<\/a>\u203c\ufe0f<\/p>\n

The image is a preview of concept art for a significant location in Aku\u2019s future & features various items that Aku gathered during his travels as a digital explorer on Earth. pic.twitter.com\/uz614RiQbb<\/a><\/p>\n

\u2014 Aku \ud83d\udc68\ud83c\udffe\u200d\ud83d\ude80 Akutars (@AkuDreams) January 8, 2023<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

As a result, interest from top collectors enabled artists to sell out their projects quickly.\u00a0<\/p>\n

Maliha Abidi<\/a> and Bobby Hundreds, two prominent NFT artists, have been highly praising Instagram for its NFT platform and integration. The convenience of being able to showcase their creations to a wide range of prospective buyers has made them appreciate the feature even more.<\/p>\n

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Instagram post from Adam Bomb Squad \u2013 Bobby Hundreds\u2019 NFT collection \u2013 back in May<\/em><\/figcaption><\/figure>\n<\/div>\n

Still, there remain some doubts about whether the platform can attract hardcore Web3<\/a> proponents. Some individuals may smirk at the idea of doing their business on a highly centralized Web2 platform.<\/p>\n

Also, there is the little issue of creations attracting huge fees. The platform\u2019s in-app purchases are subject to high fees from Apple and Google, ranging from 15% to 30%. This results in smaller profits for NFT sellers.<\/p>\n

What NFTs On Instagram Mean For Mass Adoption<\/h2>\n

Still, by allowing NFT trading on its platform<\/a>, Instagram exposes these digital assets to a wider audience in a less complex manner. People unfamiliar with DeFi protocols can access these assets here. Also, they get to pay in fiat, eliminating what is normally a complex onboarding process for the average person.<\/p>\n

Instagram is one of the largest social media networks, boasting over 2 billion users globally. And many proponents of NFTs feel this is what is needed to propel them into mainstream adoption.<\/p>\n<\/div>\n<\/div>\n