Instagram tests an option to send "gifts" to the creator of a Reel
Instagram continues to look for ways to monetize creators who, above all, publish Reels on their platform. The Meta-owned social network has confirmed to TechCrunch who are working internally on a new feature called 'Gifts', a function that will allow users to send gifts that creators can exchange for money and that, to no one's surprise, is very reminiscent of the option offered by TikTok.
TikTok, in fact, allows users to exchange money for virtual currencies to later send gifts, as a tip or as a support, to the creators who are broadcasting live. Creators can also receive and accumulate these gifts and then exchange them for money. In the case of Instagram, and according to the aforementioned medium, the option to send 'Gifts' will be available only for Reels, and not all creators will be able to have this option enabled. That is, they must meet a series of requirements so that they can receive gifts from their followers and, later, exchange them for money.
For now, requirements are unknown to apply the function on Instagram, as well as the percentage of commission that the platform will keep once the creator decides to exchange the gifts for real money. Instagram, for its part, has only detailed that the feature "is an internal prototype and is not being tested externally."
Instagram also has subscriptions as a form of monetization for creators
Interestingly, Instagram has already worked with a similar feature in the past, when the company still kept Instagram TV as the main focus on videos. Users, in this case, could offer their favorite creators badges worth 0.99, 1.99 and 4.99 dollars, and these could later be exchanged for money.
This, however, is not the only feature related to creator monetization that Instagram is working on. The Meta-owned social network is also rolling out the 'Subscriptions' feature. This feature, in particular, allows followers subscribe to an account or a user to be able to see exclusive content in exchange for a monthly subscription.
Creators can also set different rates, which range from $0.99 to $9.99 per month. Depending on the price, they can choose to include some or other exclusive features. For example, the possibility of creating a chat with 30 members or showing exclusive Instagram stories.