Meta announced that Instagram would introduce its Digital Collectible feature to allow creators showcase their NFTs that are linked to a digital wallet.
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Slowly but steadily, Web3 is gradually creeping into mainstream consciousness as companies across sectors jump onto the bandwagon of releasing features that support this latest technological development. Services like creating digital fashion pieces to owning pieces of virtual land on the metaverse are increasingly the norm.

Of the suite of features available on Web3, NFTs are perhaps the most popular within the crypto community. Along with the rise of cryptocurrencies like Bitcoin and Ethereum, transactions within the space also climbed to reach a peak point last November. The allure of crypto assets comes from monetary gains, and blue-chip NFTs from Bored Ape Yacht Club and CryptoPunks can easily hit millions of dollars. For many, this is a sure-fire way to amass wealth in the shortest time.
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While many have become millionaires during this ?golden age?, the current situation is not a joyful affair. Pundits have termed this period the ?crypto winter?, where prices have reached an all-time low. For example, NFT sales have for the first time not hit the US$1 billion mark in July since June 2021. Marketplaces like OpenSea even r...