Flow surges almost 35% after Instagram-NFT partnership

  • Flow is being unified with the social media platform, Instagram
  • Flow is a strong competitor of Ethereum  

Flow, a cryptocurrency layer-1 blockchain and smart contract platform, is taking flight after being unified with an excellent social media platform.

The largest social networking Meta has publicized and stated that NFTs produced on the smart contract platform, Flow will go ahead posting on the new digital collectibles feed of the social media platform, Instagram.

Flow is a strong competitor of Ethereum fit for gaming, app developers, and NFT creators.

The protocol makes operational enhancements straight onto its protocol layer, which permits users to do transactions and take part in the authority of the network. 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 begins rising, which means now users can easily connect their dapper wallet and display their favourite NFTs directly on their account.”

After the announcement of the news from Meta, the native token of the platform vertical saw drastic hype and jumped by 99%, and also, its value went from $1.86 to $3.77. 

In March 2022, the chief executive officer of Meta, Mark Zukerberg, disclosed his plan to include NFTs in the social media platform Instagram which is currently a photo-focused platform.

NFT features to be introduced shortly

After that, in May of this same year, the CEO revealed that he was planning to introduce its NFT features shortly and that thing would be launched on Facebook and other Meta-driven apps.

Crypto users will be bridging a lot of wallets to their Insta accounts and will be able to share their digital assets; the app will also tag the creator and owner on its own. Presently there is no charge for the feature of posting and sharing.

Apart from Flow, the blockchains such as Ethereum and Polygon are also supported on the platform.

In July, the social media giant Meta publicized that leaving the Novi crypto wallet at the same time it said that the technology would be applied to the upcoming products.

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Source: https://www.thecoinrepublic.com/2022/08/06/flow-surges-almost-35-after-instagram-nft-partnership/