Instagram has launched a new recognition program for its creators called the "Rings" award. Instead of a celebrity-hosted event, this award focuses on a unique physical prize: 25 winners will receive tangible rings designed by fashion visionary Grace Wales Bonner.
Winners will not receive any financial payout. However, they will receive a digital replica of the award to showcase on their Instagram profile and Stories.
Unique profile customisation

In addition to the ring, winning creators will receive a special, unique benefit: the ability to customise their profile background colour with a unique gradient. This feature is one-of-a-kind for the platform, as Instagram has never allowed this level of profile customisation before. Platforms like Myspace and Friendster offered similar customisations more than two decades ago.
Selection process
The awards do not rely on official categories like other ceremonies. Instead, the 25 winners will be chosen from a broad range of topics and interest groups.
“The criteria was really tough,” said Chen. “But really, we were looking for people who take creative chances and who are always pushing the envelope and thinking about new ways to talk to their audience”.
Selection jury and result date

The selection jury includes ring designer Grace Wales Bonner, Instagram head Adam Mosseri, YouTube personality MKBHD, actress Yara Shahidi, and others which includes Spike Lee, Marc Jacobs, Kaws, Pat McGrath, Cedric Grolet, Ilona Maher, Tainy, Murad Osmann, Eva Chen. They will narrow the field from thousands to hundreds before settling on the final winners.
Instagram hopes this will become a regular event. "We’d love to see how it’s received and how the winners enjoy the literal Instagram spotlight,” Chen remarked. The winners are scheduled to be announced on October 16.