Mark Zuckerberg, CEO of Meta (formerly Facebook; owner of Instagram) revealed today that Instagram will integrate NFT into its platform.
Speaking at SXSW, the billionaire confirmed that digital collectibles would be coming to Instagram “in short order.” He shared few details about the role NFTs would play on the platform, but suggested that people could show off their current NFTs and even invent new ones. “I’m not ready to announce exactly what it will be today,” he said. “But in the coming months, the ability to incorporate some of their NFTs will hopefully eventually be able to mint things within that environment.” Zuckerberg’s interest in NFTs is not surprising: he changed his company name to “Meta” in October last year, focusing on the growing concept of a virtual world called the “Metaverse,” in which NFTs and cryptocurrencies are likely to be central. The CEO expressed his hope that NFTs could at least play a role in the Meta metaverse itself: “I hope you know that the clothes your avatar wears in the metaverse, you know, can basically be coined as an NFT and you can take between its different venues,” he said. In January, Meta reportedly planned to add NFTs to its developing crypto wallet Novi. Additionally, Instagram boss Adam Mosseri said the company was “actively exploring” NFTs in December. Instagram wouldn’t be the only social platform to take an interest: Twitter has already integrated NFT profile pictures and Ethereum wallet connectivity for its Twitter Blue subscribers.
Featured image courtesy of Bloomberg.
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