Arweave (AR) up 60% on Meta and Instagram Partnership, Here's What You Need to Know

u.todayPublished on 2022-11-03Last updated on 2022-11-03

Abstract

Arweave's AR token price soared upward 60% after it was revealed that Meta is planning to integrate the project's services into Instagram.

Arweave's AR token price soared upward 60% after it was revealed that Meta is planning to integrate the project's services into Instagram. In particular, Arweave services will be used to store digital collectibles, or simply NFTs, the functionality of which has recently been added to the popular social network.
📢Happy to announce that @Meta is now utilizing Arweave for the storage of their creator's digital collectibles on @instagram!

Bringing data permanence to the giants of web2!https://t.co/7HbquIsMJg pic.twitter.com/TFef5WhrN3
— Arweave Team (@ArweaveTeam) November 2, 2022
As reported by U.Today, Instagram will launch a marketplace to sell NFTs right inside the app, with initial testing being done on Polygon's blockchain at the moment. According to Stephane Kasriel, responsible for Web3 at Meta, all these innovations are primarily aimed at attracting creators and enabling them to earn.
Storage tokens are pumping
The news of the integration of Arweave's decentralized storage services has boosted quotations for all cryptocurrencies belonging to this sector. Of the big projects operating in infrastructure and storage, apart from AR, Filecoin (FIL) has risen noticeably, up 15% in the last 24 hours.

Source: CoinMarketCap Speaking of FIL, the Filecoin Foundation conference, which is taking place right now, should not be overlooked. The anticipation of important announcements, including the Filecoin virtual machine, is giving the cryptocurrency's price an additional boost.
Overall, the sector's capitalization rose 11.7% to $4.57 billion, according to CoinMarketCap. The trading volume of project tokens from this category rose even more significantly, up 191% during the day.

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Welcome to HTX.com! We've made purchasing Arweave (AR) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy Arweave (AR) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your Arweave (AR)After purchasing your Arweave (AR), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade Arweave (AR)Easily trade Arweave (AR) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

11.5k Total ViewsPublished 2024.03.29Updated 2026.06.02

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