On Tuesday, 15th of March, Mark Zuckerberg announced at the SXSW festival in Austin, Texas, that Instagram is working on bringing NFTs (non-fungible tokens) to its platform in a few months.
Without revealing too much detail, he suggested people would be able to show off their existing NFTs and potentially mint new ones. Also, he said, “We are working on bringing NFTs to Instagram in the near term,” in a conversation with Shark Tank’s Daymond John. “I’m not ready to announce exactly what that’s going to be today, but, over the next several months, the ability to bring some of your NFTs in, and hopefully be able to mint things within that environment.”
Mark Zuckerberg also added that NFTs could one day play a role in the company’s eventual metaverse.
“I would hope that you know, the clothing that your avatar is wearing in the metaverse, you know, can be minted as an NFT, and you can take it between your different places, “There’s like a bunch of technical things that need to get worked out before that’ll be seamless to happen.”
Although other social media platforms have delved into the NFT space, Instagram seems to be the first platform to introduce the NFT minting feature.
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Image Source – SXSW
