Whether you’re into collecting or creating NFTs, you will love Instagram’s new NFT display feature that lets users share their digital collectibles with the world.
This guide is going to take you through all the ins and outs of NFTs on Instagram. If you are just looking for the exact steps to connect your wallet, and share an NFT to Instagram, feel free to jump ahead. Otherwise, stick around and we will tell you everything you need to know.
Let’s start with the basics.
What are NFTs?
An NFT is essentially a seal of authentication from a network—like a unique key or serial number. The code of the NFT is usually connected to a particular digital or physical asset such as an image, a song, or a video. For example, Dapper Labs has turned video sports highlights into NFTs by making collectible digital Moments similar to trading cards we’ve been using for decades. If we get technical, an NFT is a piece of code or data stored on a blockchain. A blockchain is a decentralized ledger that records all transactions into data “blocks” that are accessible and viewable by anyone on the network.
Each NFT may represent a different underlying asset and value. NFTs may also have licensing rights to use the asset for a specified purpose. Licensing rights and royalties are one of the most exciting prospects in the future of NFTs. The associated license to use, copy, or display the underlying asset, can now be traded and sold on digital markets that are open to everyone.
Fungible vs non-fungible Tokens: what’s the difference?
NFTs are digital, cryptographic tokens, but unlike cryptocurrencies such as Bitcoin or Ethereum, NFTs are not mutually interchangeable, so the technical term for that is to say they are “non-fungible” or “not equal to each other”.
An example of a fungible token would be Bitcoin because all Bitcoin is equal to each other. Not all NFTs are equal to each other. Think about NFTs like they are playing cards, where each card is unique.
Understanding NFT copyright
When you buy an NFT, you don’t automatically own the copyright to the art, music, or video that represents it unless it is explicitly transferred. For example, an NFT company called Bored Apes has explicitly assigned the intellectual property rights of individual images to their respective owners. Another NFT company, CryptoPunks, initially prohibited owners of its NFTs from using the associated digital artwork for commercial use but later allowed such use upon acquisition of the collection's parent company.
How to (easily) buy an NFT with Dapper
Buying NFTs with Dapper is simple and easy, even if you don’t have any prior experience with the crypto economy.
Let’s walk through the process of buying your first NFT from NBA Top Shot so you have an NFT to share on Instagram by the time you’re done reading!
STEP 1: SIGN UP
Go to: https://nbatopshot.com/ and click the “Sign Up” to start the process from scratch, or “Login” if you already have a Dapper account set up. Signing up for Dapper is free. In fact, you may even get free NFTs! Dapper Labs has been known to do promo NFT drops to Dapper Wallet holders in the past—so keep an eye on your inbox!
If you select “Sign Up, " the next screen you’ll come across is the option to sign up with your Google Account or another email address.
STEP 2: BROWSE NFTs
Once you sign in, you’ll be redirected back to NBA Top Shot marketplace where you can browse NFTs or add funds to your Dapper Balance. Try clicking on an NFT to play the video moment, and view its price, selling history, and other attributes.
STEP 3: CHECKOUT
Once you have found an NBA Top Shot Moment you like, click “Buy Now” and follow the instructions in Dapper. You can complete the purchase using your Dapper Balance (USD) or a credit card.
STEP 4: VIEW YOUR NFT IN DAPPER
To check out your NFT in your Dapper wallet, go to Dapper and click “Inventory” on the left.
[ADD IN SCREENSHOT OF DAPPER NFT IN DAPPER WALLET]
What is the new Instagram NFT display feature?
Instagram now allows users to display their favorite NFTs on their profile, share them as posts or stories and tag the creators. Think of this feature as a trophy case or a digital art gallery for your NFTs.
There are no fees associated with sharing NFTs on Instagram. You just need to connect Dapper or another supported digital wallet to your Instagram profile and you’re all set. View step-by-step instructions here.
Once you post your NFT image, Instagram adds a shimmery effect to the image with a description or a tag from the creator. The shimmery effect is like the Blue Checkmark on Twitter. It verifies your ownership and lets everyone know the NFT is the real deal.
This first NFT feature release is just a first step in a sea of possibilities. In the future, we might be able to see NFT integrations with virtual reality (VR) and augmented reality (AR) technologies allowing users to interact with their digital collections in new and unexpected ways. That’s why now is a great time to get into NFTs—you’ll be well ahead of the curve by the time these new and improved features roll out.
Which blockchains integrate with Instagram?
The blockchains that are officially supported are:
- Flow - This network is a fast, decentralized, and eco-friendly blockchain, designed for a new generation of games, apps, and the digital assets that power them. Flow is also trusted by top brands, like the NBA and NFL, and has processed the most NFT transactions of any blockchain.
- Ethereum - A popular network for NFTs, using the EIP-721: Non-Fungible Token Standard that was designed by Dapper Labs
- Polygon -Polygon is a layer 2 (or sub-network) built on top of the main Ethereum network
What digital wallets are supported by Instagram?
- Dapper Wallet
- Coinbase Wallet
- Rainbow Wallet
- Trust Wallet
How to connect your NFT wallet to Instagram
- Go to your Instagram app and click your profile photo
- Select Settings
- Select Digital Collectables
- Select Dapper from the list of wallets
- A notification will pop up, asking for your wallet’s password
- Follow the onscreen instructions for your wallet app to sign in
- You can now share your NFTs!
For more information, watch this instructional video.
We hope you enjoy showing off your NFTs and exploring the new digital frontier with Dapper and Instagram. Don’t forget to follow Dapper Labs on Instagram for updates on all of our most exciting NFT partnerships and projects.