According to Mark Zuckerberg, NFTs will soon be on Instagram
Mark Zuckerberg says that Meta will add NFT to Instagram, based on Engadget and The Daily Beast. Although he did not describe exactly what it would be like, he said in a session at South By Southwest that “over the next couple of months, your ability to put some of your NFTs in, hopefully over time can boil down to things in that environment.”
There have been rumblings that this will come. Last year, Adam Mosseri led Instagram speak the team was “actively exploring NFT” but without any actual announcements. In January, we listen to a report that the teams at Facebook and Instagram are working on NFT integrations. The report mentions that there has been progress on features that allow you to use NFT as profiling and minting of NFT on the platform and discussions around market creation.
Those first two features align with what Zuckerberg mentioned on stage, but it’s still unclear exactly what creating an NFT on Instagram would mean. Can you sell a popular post as an NFT? Or do mint NFTs act as a ticket to let people see specific stories? Meta has yet to say anything, though it seems likely that minting won’t appear until further down the line. The idea of a marketplace seems likely to go even further, as it doesn’t appear to receive direct reference from Zuckerberg, though Great valuation of sites like OpenSea potentially making it an attractive business venture.
Of course, there’s also a metaverse angle here. Zuckerberg is said to have talked about molding your avatar’s clothes as an NFT and carrying “it between your different places.” Zuckerberg has talked about NFT and metaverse before, says he can see them as part of governance of the digital world. Now, it seems he’s thinking of them as digital objects, something previously released by Meta.
He noted on Tuesday that “a bunch of technical stuff needs to be perfected before it’s really seamless.” First, Meta will have to make sure the objects are well integrated across different platforms, not particularly easy. You know, it actually has to be build a metaverse for that to happen (seems like a minor technical hitch).
Instagram won’t be the first major social network with NFT integration. Earlier this year, Twitter Introduce a feature allows some users to set the NFT they own as their profile picture. They then show up as hexagons, and anyone interested can click through to see the NFT’s metadata. With the frequency of TikTok features ended up with an almost carbon copy on Instagramwouldn’t be surprised to see Meta share photos (yeah, “entertain”) the app does something similar.
https://www.theverge.com/2022/3/15/22979926/instagram-nfts-meta-zuckerberg-sxsw-metaverse According to Mark Zuckerberg, NFTs will soon be on Instagram