In a talk at SXSW, Mark Zuckerberg officially confirmed that NFTs will appear on Instagram in the near future. Here’s what users can expect:
NFT Instagram In the coming months, Mark Zuckerberg confirmed. This announcement will come a few weeks after it was reported that Meta was working on implementing an NFT. Social media companies are starting to adopt NFTs. For example, Twitter allows users to view validated NFTs as profile pictures.
There are two aspects to the NFT world: NFT artists and the rest of the big brands jumping into new trends as they become mainstream. Like everything else, when NFTs became widespread, they lost their original intentions and gained a lot of value (actually billions of dollars). Zuckerberg’s Metaverse vision fits perfectly into the second angle of the NFT world.
Not surprisingly, Instagram is considering migrating to NFTs, but Mark Zuckerberg officially confirmed the news in a recent session at SXSW (” Engadget).. January 2022, Financial Times We have published a report stating that Instagram can take a step-by-step approach to adopting NFTs. First, allow validated NFT profiles, then allow NFT posts, and later allow users to create and create NFTs. Finally, the entire marketplace around the platform is added.
Gray line between NFT and Metaverse
There were many legal and security issues related to NFTs. Sites like OpenSea, the largest NFT marketplace, have been hacked several times. Big project names like Bored Ape Yacht have been affected and millions of digital assets have been lost. According to experts, NFT ownership is verified on the blockchain, but in reality the operation only acts as a receipt for payments. They add that NFT piracy cases are also increasing due to the proliferation of NFT scams on peer-to-peer exchange sites.
Instagram needs to approach NFTs carefully, but it’s unlikely to be suppressed. Zuckerberg’s vision for Meta and Metaverse is a vision of a virtual world where digital objects are unique. From digital wardrobes to virtual lands, virtual art and other digital assets, Meta plans to flood Metaverse with NFTs. Therefore, releasing an NFT on Instagram is a natural step for Zuckerberg and a test run for NFT management.
Zuckerberg added that SXSW will allow users to move NFTs to Instagram.Hopefully over time you will be able to mint things in that environment“. This is a confirmation that users will be able to create, introduce and sell NFTs on Facebook and Instagram. The project still needs to know the details.A bunch of technical things that need to be resolved before it happens happens seamlessly“Zuckerberg added.Either way, it won’t last that long Instagram Users will be able to showcase NFTs on the platform.
Source: Engadget, Financial Times
