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Meta Platforms has announced that it’s adding a host of new features to Instagram, including a tool allowing users to trade digital collectibles, which is being introduced to help Instagram customers make money on the app more easily.
Users will be able to buy non-fungible tokens (NFTs) directly within Instagram, a process that will be tested with a small group of creators in the USA, the company said, with plans to expand to more countries eventually.
Currently, the most common approach to Instagram monetisation is to partner with brands as an influencer: basically anyone with an online reputation by doing and sharing things to their audiences. Many brands see the immense reach of this, so they partner with influencers on sponsored content like posts, Reels, and Stories that help advertise their products.
You can also become an affiliate, which is all about making actual sales for the partner brand in exchange for a commission: normally a trackable link or unique promo code so that clicks become sales: the promo codes help you make money from different angles.
You can also use Instagram to sell your own merch, sell your photos online, monetize your content by including adverts within it, or finally simply sell stuff, whether it’s furniture, clothing or collectors items, or perhaps have a de-clutter of your home and help save the environment.
Now, Meta has been introducing features for people to make money on their social media apps as it competes with TikTok and others: it has also announced expansion of access to subscriptions on Instagram to all eligible creators in the USA to help them earn a more stable, regular income on the photo-sharing app.
It is also beginning gifts on Instagram, starting with Reels, allowing creators a new way to earn money from their fan base. They are also launching a professional mode for Facebook profiles so that creators can build a public presence while maintaining their personal Facebook profile.