Instagram may integrate NFT
Instagram CEO Adam Mosseri announced that soon the social network may introduce non-fungible tokens (NFT). Moreover, the platform is interested in creating functions that include the use of NFT, and also in facilitating contacts with creators of collectible tokens. It is expected that users will be able to show the NFTs they have created or sign up for a priced subscription to their favorite artists and other content creators.
According to the Instagram chief, in the near future, special marks, offering to purchase NFT, may appear on some publications on the social network. Mosseri noted that the NFT service can be useful for users who buy and sell collectible tokens.
The social network is vigorously working on the promotion of non-fungible tokens, which are quite popular objects of modern art now. In 2021, collectible tokens received a lot of attention due to large companies using NFT to create unique items in virtual reality.
The platform users actively support the implementation of a photo sharing function using non-fungible tokens. This summer, developer Alessandro Paluzzi announced that such an opportunity may soon appear on Instagram. His statement is based on screenshots of the social network showing a special section for NFT trading. In October, Paluzzi said that the social network is still working on a collectible token service. In early December, Paluzzi stated that new wallets such as Coinbase, TrustWallet and Novi had been added to Instagram.
Sean Williams said that Instagram has already contacted the NFT creators, and has started working on a collectible token tool apparently. However, the social network representatives have not yet confirmed the development of the NFT service.
Instagram is Facebook owned, which recently changed its name to Meta. Mark Zuckerberg, the CEO, said that Meta strongly supports the metaverse and wants to link its activities to this idea
Recently, a feature, that allows to make transfers in cryptocurrency, was added to WhatsApp messenger, another Meta product.