Meta Announces New NFT Features for Facebook, Instagram, and More During Creator Week

New major updates are coming to Meta
By Andy Lalwani
Photo by Marissa Joy // Meta

Meta is still looking to capture and retain their talent by making more events than even in 2022.

The latest initiative from the media giant, Creator Week, kicked off with in person events in Los Angeles, London, Bali, São Paulo and Delhi and digital events across @Creators on Instagram and Meta for Creators. 

Through these events, creators had the chance to learn about how others are not only creating their content, but monetizing with the current platform features. From interactive panels, guest moderators and even activations on site, guests were encouraged to learn about all of the new updates from Meta and what is to come for the creator economy.

Subscribe to Our Newsletter

Meta decked out Lombardi house located in Hollywood, CA complete with Instagram styled basketball court and other activations where creators could make reels. (Photo by Marissa Joy // Meta)

Creator Week LA consisted of programming including product drops and essential updates hosted by @itsdanielmac with @joyofodu, @donalleniii explaining new NFT features for platforms, and inspiration lead by @karenxcheng’s journey to a million followers.

One activation even included “Meme Mountain,” the first Horizon Worlds collaboration with Instagram Reels Creators including @karenxcheng, @donalleniii, @cogey, @tank.sinatra,@influencersinthewild, @itsjakeberg, and Horizon Worlds Builders.

Meta announced that there are now more than 140 billion Reels played daily on Facebook and Instagram. Reels even has a revenue rate of $3 billion dollars from both apps as well.

In a press release, Meta let many know about some of the updates many can expect coming up on platforms like Facebook and Instagram.

The creator keynote of Creator Week Los Angeles, CA at Lombardi house moderated by @karenxcheng (Photo by Marissa Joy // Meta)

Digital Collectibles Updates 

Creators will soon be able to make their own digital collectibles and sell them directly to fans, both on platforms. With these updates, creators will have an end-to-end toolkit – from creation and showcasing, to selling. People will be able to easily support their favorite creators by buying digital collectibles directly within Instagram. Meta is testing these new features with a small group of creators in the US to start, and hope to expand to more countries soon.

Meta is also expanding its showcasing capabilities to include video digital collectibles on Instagram and adding support for the Solana blockchain and Phantom wallet, in addition to the blockchains and wallets that it already supports. Lastly, information for select collections where the metadata has been enriched by OpenSea, such as collection name and descriptions, will now be available on Instagram.

Creators could immerse themselves with an in person shopping experience themed to represent the shoppable features on platforms like Instagram. (Photo by Marissa Joy // Meta)

Instagram Subscriptions Update

Instagram is expanding access to subscriptions to all eligible creators in the U.S. so more creators can start earning predictable income and connecting more deeply with their most engaged followers.

Subscriptions has been a relatively new feature on the app that has allowed many to find new ways to monetize and grow their following.

Facebook Stars Updates 

Facebook is increasing access to Stars, which lets fans show creators love and help them earn money for their videos. It’s testing automatic onboarding for creators, meaning the ability to send stars will automatically appear on their content – including Reels. Facebook is also bringing Stars to more content like photos and text posts.

Facebook is adding more ways to engage with Stars, like bringing Stars Party to Reels, plus a new type of virtual gift tailored to specific content.

Lombardi house featured a “Meme Mountain” powered by Oculus. (Photo by Marissa Joy // Meta)

Gifts on Instagram Reels

Meta is introducing gifts on Instagram, starting with gifts on Reels, giving creators a new way to earn money from fans who love their reels.

To support their favorite creators, fans can send gifts on Reels they love by purchasing Stars within the Instagram app.

Meta is currently testing gifts on Reels in the US to start, and hope to expand it to more creators soon.

Professional Mode for Facebook Profiles

Facebook is expanding professional mode for profiles globally – a profile setting that provides creator opportunities to anyone who wants to become a creator – plus adding new tools and monetization opportunities for creators using professional mode.

Creators can become eligible to earn money through Stars, ads on Facebook Reels, in-stream ads and Reels Play. They will also have access to content and audience analytics, educational resources and more.