Mark Zuckerberg, founder and CEO of Meta, has confirmed that non-fungible tokens (NFTs) will soon be coming to Instagram.
The plan was revealed in an interview with Shark Tank’s Daymond John at an SXSW convention in Austin, Texas, US. The goal is for Instagram to become compatible with NFTs in “the near future” – over the next several months.
This appears to be another stepping stone in Meta’s path to the metaverse. It’s unclear at this point how the facility may look on the platform, though Zuckerberg did detail that Instagram users will have the option to mint their own NFTs.
NFTs on Facebook as Well
Instagram CEO Adam Mosseri admitted in December 2021 that the social media giant was considering integrating NFTs, saying that at the time the company was “actively exploring” the possibility. January 2022 saw Meta begin experimentation with how an NFT marketplace might work on the platform. Meta wanted to offer users the option to create and display NFTs on their Facebook and Instagram pages, intentions that are now being acted on.
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