Instagram is planning to host a three-day event named Creator Week to help content creators grow their businesses. A report unveiled this news on May 19, noting that this program will see the Facebook-owned social platform discuss non-fungible tokens (NFTs) among other topics through a series of virtual streaming sessions. Reportedly, this event is slated to run from June 8 to 10.
According to the report, the program will be invitation-only, and about 5,000 content creators from the US are set to attend. Although this event will be limited to the invited persons, Instagram plans to share some content from the sessions publicly through the Instagram.com/creators account, which currently has 4.5 million followers. While the initial event focuses on the US, Instagram intends to expand the scope of Creator Week by hosting similar events in France and other leading European markets.
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Explaining the relevance of Creator Week, Instagram’s VP of Global Partnerships, Charles Porch, said the program would help creators grow their following and their business. According to him, creators have been reaching out to Instagram requesting information on how they can quickly build their communities and businesses. To this end, Instagram introduced Creator Week to offer creators as much access as possible.
Plans to build an NFT platform
While Instagram did not disclose further details regarding its interest in NFTs, one of the invited creators, Sean Williams, took to Twitter to share what social network is planning. He disclosed that Instagram is looking to build an NFT platform and that it is reaching out to upcoming artists in the NFT space to achieve this feat. He went on to note that through Creator Week Instagram hopes to glean information on what the NFT community needs.
This news comes as the NFT craze continues, with leading artists and companies joining the space. By following through with the idea of an NFT platform, Instagram would meet stiff competition, seeing as Gemini exchange already has a marketplace dubbed Nifty Gateway.
Apart from Nifty Gateway, Instagram would have to compete against Binance, which recently announced that it intends to launch an NFT marketplace dubbed Binance NFT. This platform is set to go live in June, and it seeks to bring together artists, creators, and crypto enthusiasts from around the world.