Chief Executive Officer (CEO) of Meta- Mark Zuckerberg has released that video and photo-sharing application that is Instagram is planning to add NFT that is Non-Fungible Tokens to the platform.
As per the news, Zuckerberg revealed that the team is working on bringing NFTs to Instagram in the near term. He announced during a conversation with a famous businessman Daymond John at the South by Southwest (SXSW) conference in Austin, Texas, US.
Zuckerberg was somehow mum about the specifications of the plan.
As recorded in January, Zuckerberg claimed that Facebook and Instagram were taking into consideration allowing users to produce and trade NFTs directly on the platforms along with the NFT profile pictures.
The CEO of the Meta and Instagram also revealed with Shark Tank’s Daymon John that recent was held in Austin, Texas, last Tuesday that the social media applications are planning to offer NFTs soon.
As said by the CEO, users would be able to mint their own NFTs on the platform just in few coming months, as said by Zuckerberg as tweeted by Casey Newton, platformer newsletter writer and crypto influencer.
Instagram has more than a billion monthly active users, actively exploring bringing NFT technology to a wider audience.
Adam Mosseri, Instagram’s head of programming, revealed that I think it’s an interesting part that we can play and also hopefully help creators.
Zuckerberg added to his statements that I would hope that the clothing that your avatar is wearing in the metaverse, you know, can be basically minted as an NFT, and you can take it between your differentiated places.
There would be a bunch of technical things that need to get worked upon before that’ll really be seamless to happen, said Zuckerberg. He added that NFTs would play a vital role in his vision of the metaverse.
He didn’t specify how it would work. However, it’s still undetermined what Zuckerberg meant by minting an NFT on Instagram.
