Stream increases nearly 35% after Instagram-NFT partnership
- Flow is unified with the social media platform, Instagram
- Flow is a serious competitor to Ethereum
Flow, a cryptocurrency layer 1 blockchain and smart contracts platform, is taking off after being unified with an excellent social media platform.
The largest social network Meta has gone public and said that NFTs produced on the smart contract platform, Flow, will continue to post on the social media platform’s new digital collectibles feed, Instagram.
Flow is a strong Ethereum competitor suitable for games, app developers, and NFT creators.
The protocol provides operational enhancements directly on its protocol layer, allowing users to transact and participate in network authority. The partners of this firm include some brands such as Cryptokitties, Top Shot, animoca brands, Laliga, etc.
On Thursday, Flow tweeted that:
“Today is the day. Our partnership with instagram is starting to grow, which means users can now easily connect their dapper wallet and view their favorite NFTs directly on their account.
After the Meta news broke, the vertical platform’s native token experienced drastic hype and jumped 99%, and its value also jumped from $1.86 to $3.77.
In March 2022, Meta CEO Mark Zukerberg unveiled plans to include NFTs in the social media platform Instagram, which is currently a photo-focused platform.
NFT features to be introduced soon
After that, in May of the same year, the CEO revealed that he plans to introduce his NFT features soon and this thing will be launched on Facebook and other Meta-based apps.
Crypto users will link many wallets to their Insta accounts and be able to share their digital assets; the app will also mark the creator and owner by itself. Currently, there is no charge for the post and share feature.
Besides Flow, blockchains such as Ethereum and Polygon are also supported on the platform.
In July, social media giant Meta announced that as it left Novi’s crypto wallet, it said the technology would be applied to future products.