Instagram launches new ways for creators to earn revenue

Meta has introduced a number of new creative tools for Facebook and Instagram creators.

The most interesting development is that Instagrammers will soon be able to create their own NFTs and sell them directly to their fans, both on and off the app, according to Mashable.

With this version, creators have access to a number of tools for creating, exhibiting, and selling NFTs.

According to Mashable India, the platform has been testing NFTs on Facebook and Instagram since last year. However, Instagram users were unable to even display tangible objects prior to now.

With the use of a new "end-to-end toolkit," creators can now create NFT collections on Instagram and sell them to their friends and followers.

Although the company has been progressively expanding its marketplace services for creatures for some time, this update is Instagram's first attempt to compete with established NFT marketplaces directly.

According to Meta, it won't take a cut of NFT sales until 2024, but 30 per cent of revenues will be subtracted to cover app store expenses. The percentage of each resale that goes to the creator might range from 5 per cent to 25 per cent, as per Mashable.

The new tools are now currently only accessible to a "limited number" of creators in the United States, though Meta says it aims to make them available to more people and nations "soon." However, enhancements are also being made to more popular NFT features. For collectors, Meta is including support for the Phantom wallet and the Solana blockchain.

Users will now be able to embed video NFTs into their Instagram profiles. The app also includes OpenSea information for "selected collections," as per Mashable.

According to Mashable, Meta said that Facebook is extending the use of Stars, a tool that lets content creators get paid directly by their viewers on Facebook Watch, Facebook Live, and Facebook On Demand. Additionally, Facebook will start testing automated onboarding for creators, which would allow the "like" button to automatically appear on their postings. Facebook is adding more forms of material to its Stars features, such as images and status updates, in addition to videos.

For creators already using Stars, Facebook is bringing Stars Party to reels! A Stars Celebration, according to Meta, is a community challenge within Stars that, if the creator succeeds, results in a party.

Facebook is also giving content creators more options to communicate with Star recipients. Creators can set a filter to Comments Manager that gathers all of their Stars comments in one location so they can reply to several comments at once, as per Mashable.

Reels' new "gifts" function, which sounds strikingly similar to a feature in TikTok, is a means for Instagram creators to generate money.

Users can send digital gifts to creators of their favourite Reels to express their gratitude. "Stars," which are obtained with real-world money, are used to buy gifts. A creator receives a portion of the price after a user gives a gift to them. The feature is now undergoing beta testing with a small number of creators, as per Mashable.

To put it in simple words, if you are watching a puppy reel from that creator, you will be able to send your favourite pet creator a gift with a dog theme.