“NFTs will be available on Instagram soon,” Says Mark Zuckerberg

“NFTs will be available on Instagram soon,” Says Mark Zuckerberg

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NFTs coming to Instagram soon

According to Engadget, CEO Mark Zuckerberg has said that Instagram would soon allow users to display NFTs and even mint them.

“We’re working on introducing NFTs to Instagram soon,” Zuckerberg remarked at SXSW this week. “I’m not ready to declare exactly what that will be today.” But, in the coming months, you’ll be able to bring some of your NFTs in, and maybe, over time, you’ll be able to mint things inside that environment.”

The Financial Times revealed in January that Meta was working on plans for both Facebook and Instagram members to be able to post their NFTS on their accounts. Meta did not reply quickly to a request for further information.

Facebook changed its name to Meta in November to reflect its focus on the Metaverse and virtual reality.

NFTs on social media networks are, of course, not new. According to AdWeek, Twitter began letting Twitter Blue subscribers on iOS use an NFT as their profile photo early this year. The corporation, however, stopped short of allowing customers to manufacture their own NFTs. The capacity for Instagram users to manufacture their own NFTs would go much beyond what Twitter enables. Though Zuckerberg did not mention it, if NFTs become frequent on Instagram, Meta may transform the app into a sort of NFT marketplace, offering an income source other than advertising, an increasingly difficult industry.

Zuckerberg also stated that Meta’s NFT goals extend well beyond Instagram. Zuckerberg envisions NFTs blending in with the company’s expanding Metaverse, adding, “I would hope that, you know, the apparel that your avatar is wearing in the metaverse, you know, can be minted as an NFT and you can move it between your different locations. A few technical issues need to be ironed out before that can truly be said to be seamless.”

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