NFTs to launch on Instagram, says Meta CEO Mark Zuckerberg

Mark Zuckerberg, CEO of Meta (previously Facebook; owner Instagram), announced today that Instagram would integrate NFTs into the platform.

  • The billionaire, speaking at SXSW confirmed that Instagram would soon have digital collectibles.
  • Although he did not give any details about the role of NFTs on the platform, he suggested that people could show off their NFTs and create new ones.
  • He said, “I’m not ready for me to announce what it’s going be today.” “But over the next few months, the possibility to bring some NFTs in and hopefully over time, be able to mint items within that environment.”
  • Zuckerberg’s interest is not surprising: In October last year, he changed the name of his company to “Meta”, focusing on the growing virtual universe called the “Metaverse”, where NFTs and crypto will likely be central.
  • NFTs might play some role in Meta’s metaverse, according to the CEO.
  • He said, “I would like to hope that you know that the clothing your avatar wears in the metaverse can be basically minted with an NFT so you can take it around between your various places.”
  • Meta was said to be planning to add NFTs in January to its Novi crypto wallet. Adam Mosseri, the Instagram head, stated that the company was actively exploring NFTs in December.
  • Instagram isn’t the only social media platform that should be taken into consideration: Twitter already integrates NFT profile photos and Ethereum wallet connectivity to its Twitter Blue subscribers.

Featured Image Courtesy of Bloomberg.