NFTs are taking off on Instagram

Influencers and digital artists are at the forefront, and non-fungible tokens (NFTs) are sweeping Meta’s Instagram.

Data from the influencer marketing platform Hype Auditor shows that:

• More than 20,000 accounts use “NFTs” in bio, and most (more than 40%) are based in the United States.
• Over 900 million followers on those accounts.
• Over 100,000 posts each month using the hashtag #NFT.

Who is running these accounts? HypeAuditor classifies NFT accounts into five categories:

1. Influencers and celebrities.
2. NFT digital creator.
3. Topic page about NFT.
4. NFT collection.
5. NFT / Cryptographic Advisory Account.

For example, the most followed NFT-related account, the account of a Brazilian soccer star. Dani Alves Announced partnership with (more than 36 million followers) Club gorgon“Physical Art Club” for members only.

Support from Instagram. Instagram earlier this month Announced its support For digital creators and collectors who introduce NFTs on the platform. Creators and collectors will be able to share digital goods by connecting their digital wallet to the site.

In the announcement, Instagram said: “It’s important that early efforts in this area empower diverse voices and give underrepresented groups access to new digital assets such as NFTs. Building support for NFTs improves accessibility and barriers to entry. We aim to lower the NFT space and make the NFT space more comprehensive for all communities. “

Why do you care? Where is the brand? Of the top 100 NFT-related accounts identified by HypeAuditor, the only brand that stands out is the sneaker store KicksOnFire. (Don’t count celebrities as a brand. This can be controversial.)

There seems to be a certain trend here, and it’s amazing that brands with cutting-edge marketing strategies haven’t emerged yet.

Read next: Metaverse marketers prefer virtual reality to NFTs

About the author

Kim Davis is the editorial director of Martech. Born in London, Kim has been a New Yorker for over 20 years and began covering enterprise software 10 years ago. His experience includes SaaS for enterprises, digital advertising data-driven urban planning, and SaaS in the marketing arena, digital technology, and data applications. He first wrote about marketing technology as an editor at The Hub, a dedicated marketing technology website, Haymarket, and then became a channel for the established direct marketing brand DMN. Kim joined DMN as a senior editor in 2016, became an executive editor, and served as editor-in-chief until January 2020. Prior to his engagement in high-tech journalism, he was an associate editor for The New York Times’ HyperLocal News. He previously worked as an editor of scholarly publications and as a music journalist at the site, The Local: East Village. He has written reviews of hundreds of New York restaurants for his personal blog and has occasionally guest-contributed to Eater.