Instagram announced today it’s expanding access to a new monetization feature called Gifts to more creators across the U.S. The feature, which first began testing last year, allows fans to provide a favorite creator with direct monetary support in the form of themed virtual gifts. The gifts are purchased in the Instagram app using the virtual currency Stars and can cost anywhere from just 10 stars to several hundred stars.
While sending Stars was already available across live and on-demand videos, including Reels, the addition of Gifts allows Instagram to better compete against rivals like TikTok, where virtual gifts are already available. It also provides the company with...
