NFTs will be on Instagram soon, according to Mark Zuckerberg

NFTs will be on Instagram soon, according to Mark Zuckerberg

According to Engadget and The Daily Beast, Mark Zuckerberg has stated that Meta will be integrating NFTs into Instagram. However, while he didn’t go into detail about what that might look like, he did say during a session at South By Southwest that “over the next several months, the ability to bring some of your NFTs in, and hopefully over time, be able to mint things within that environment” would be available.

NFTs will be on Instagram soon, according to Mark Zuckerberg

There had been rumblings that something like this was on the way. Last year, Instagram’s head of product, Adam Mosseri, stated that the team was “actively exploring NFTs,” but that there would be no official announcements. According to a report published in January, teams at Facebook and Instagram were hard at work on NFT integrations. According to the article, progress has been made on features that would allow you to use an NFT as a profile and mint NFTs on the platform, as well as discussions about the creation of a marketplace.

AT FIRST, THE INTEGRATION OF INSTAGRAM’S NFT COULD BE RELATIVELY RESTRICTIVE.
However, while the first two features are consistent with what Zuckerberg said onstage, it’s still unclear what it would mean to mint an NFT on Instagram. Is it possible to sell a popular post as a non-fiction book? Alternatively, you may print NFTs that serve as passes to allow individuals to see specific stories. Meta hasn’t said anything yet, but it appears that minting powers will not be available until later in the game’s development. The concept of a marketplace appears to be even further away from reality, as it did not appear to receive a clear endorsement from Zuckerberg, despite the large valuation of sites like OpenSea making it an appealing financial proposition.

There’s also a metaverse angle here. So you can take your avatar’s attire “between your multiple places,” according to Zuckerberg. Zuckerberg has previously stated that he views NFTs and the metaverse as part of the digital world’s governance. Now he seems to be thinking of them as digital objects, as Meta had suggested.

“A bunch of technical stuff need to be sorted out before that’ll actually be smooth,” he said on Tuesday. For starters, Meta would need to ensure the objects worked well across platforms, which is difficult. It’d also have to establish a metaverse for it to happen (which does seem like a small technical hurdle).