Meta will store Instagram NFTs using Arweave
Meta has incorporated Arweave for the permanent storage of Instagram digital treasures.
Meta, the parent company of Facebook has incorporated the decentralized data storage technology Arweave to permanently store Instagram digital collectables.
“Arweave users may now issue digital collectibles for their Instagram posts,” tweeted Arweave’s creator, Sam Williams, on Thursday. In a subsequent tweet, Stephane Kasriel, the head of commerce, fintech, and web3 at Meta, verified the Arweave protocol inclusion.
According to CoinGecko, the price of AR, Arweave’s native token has increased by up to 75% after the announcement of the Meta integration.
This week, Meta revealed that Instagram artists would soon be able to produce and sell their own digital artefacts to followers both on and off Instagram. Meta will enable many blockchains for the issuance of NFTs, beginning with Polygon and Solana. The site debuted its Digital Collectibles function in one hundred countries, enabling users to link their digital wallets and display NFTs that they had either generated or purchased.
Meta thinks that NFTs may contribute to the expansion of the creative economy. “The NFT market is still in its infancy compared to where we believe it will go,” Kasriel said in a blog post.
Arweave was established in 2017 to allow users to keep data indefinitely. The protocol joins individuals with excess hard drive space with others who need to permanently store data or host content.