(Reuters) – Meta Platforms said on Wednesday it was adding a host of new features to Instagram, including a tool to redeem digital collectibles, in a bid to help content creators monetize their presence on the platform -form of social media.
Users will soon be able to support creators by purchasing their non-fungible tokens (NFTs) directly on Instagram, the company said.
The new features will be tested with a small group of creators in the United States, the company said, and added that it plans to expand to other countries soon.
Meta has rolled out more features for users to earn money on its social media apps as it competes for talent with TikTok and others at a time when influencers are pulling advertising dollars to these platforms .
Along with the push, Meta said it is expanding access to subscriptions on Instagram to all eligible creators in the United States to help them earn more predictable income on the photo-sharing app.
It’s also introducing giveaways on Instagram, starting with Reels, so creators have a new way to earn money from their fan base.
The company is also launching a professional mode for Facebook profiles, which will allow creators to build a public presence while maintaining their personal Facebook profile.
(Reporting by Chavi Mehta and Nivedita Balu in Bengaluru; Editing by Anil D’Silva)