What does the link sticker look like? You can see it in the image below. You can find this sticker via the sticker library. If you have created a Story, you can find this library at the top of your screen via the smiling square. The link sticker is added to this library.
Source: Social Media Today .
Why does Instagram make this choice?
As you can see in the image above, a swipe-up removes the ability to respond to a Story. If a sticker has been added to a Story, this Story can still be responded to. In this way, Instagram stimulates engagement within its own platform.
Of course, we all know that social media channels prefer to keep users on their own platform. That special lead makes sense. For example, you see on LinkedIn that posts with a link in the post itself score lower on average than posts that do not contain a link. For the same reason, Instagram has made the shopping functions within the platform so extensive that you can go through an entire purchase process within the app. In this way, you as a user remain in the app.
In addition, Instagram indicates that with this change they want to give users 'more control over their creativity'. With the addition of a swipe-up you of course had no further possibilities to personalize the link. Now that this option is converted into a sticker, you can personalize it just like other stickers. Think of the color, the size and you can of course drag a sticker.