MATIC Jumps Over $1 per Token After Instagram's Polygon NFT Minting Announcement
1 min read
Just recently, Meta, revealed that creators on Instagram will soon be able to create their own NFTs and sell them directly to fans, both on and off Instagram. The recent announcement caused a significant spike in prices for Polygon’s token, MATIC. With 2 billion active monthly users on Instagram, this move could potentially drive significant traffic to the already successful Polygon blockchain network. Some other notable platforms that have announced support for NFTs include Disney, Robinhood and Starbucks. As interest in this cutting edge new technology continues to grow, it looks like NFTs are here to stay. he blockchain saw record growth in active wallets this past quarter thanks to the launch of Reddit’s NFT marketplace
Meta's new NFT-related feature on Instagram is a step in the right direction for artists who want to sell their work directly to collectors. The end-to-end toolkit will make it easy for creators to mint, showcase and sell their NFTs, which is a big win for the creative community. With Polygon as the first supported blockchain, we can only imagine that other blockchains will be added down the road. This partnership could very well be a game-changer for how creatives monetize their art online. What are your thoughts of this news?
For more information on Polygon and MATIC, please visit https://polygon.network/.