2 major updates coming out of camp Zuck over the past few days.
🙋 first, Meta will allow creators to charge subscriptions for exclusive content on Instagram — opening whole new possibilities for creators. Just like followers, people will now have “subscribers”, and Meta says it won’t be charging any fees until 2023.
Based on what creative tools they are allowed access to, we could possibly see a whole set of original creator-led shows, interviews, and other exclusive content. Like a Netflix and YouTube packed into one.
Second, Zuck has caught the NFT bug. ❤️
Financial Times says Facebook is going to allow users to showcase NFTs that they own on their Instagram profile — just like photos, in a completely separate tab. Not just that, users will also eventually be even allowed to mint NFTs and even trade them with each other, all inside the app!
In no time, NFTs have become a $40 billion annual business, but the process still remains complicated for everyday folks. Instagram’s 2B+ users could be a force of mass consumer adoption, bringing more liquidity and truly defining the market.
Bottomline — Meta’s “other” revenue is almost a billion dollars a quarter business now, which will be a HUGE driver of growth going ahead.