Non-fungible token

NFT and Instagram: The New Incorporation

NFT will be added to Instagram over the next several months. Mark Zuckerberg , the CEO of Facebook confirmed that they plan to add non-fungible tokens to the platform. “We are working on bringing NFTs to Instagram in the near term,” Zuckerberg said in a conversation with Shark Tank’s Daymond John.

Mark Zuckerberg: “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 over time be able to mint things within that environment.”

Adam Masser: “I think it’s an interesting place that we can play and also to hopefully help creators”.

Meta Vision: NFT

In October 2021, Facebook changed its name to Meta with the vision of integrating with the virtual world. Now Instagram is planning to add NFTs with the parent company’s vision.

At the time, the company’s head of metaverse products, Vishal Shah, said Meta would support NFT. “This will make it easier for people to sell limited edition digital objects like NFTs, display them in their digital spaces, and even resell them to the next person securely,” he said.

NFTs As Avatar Clothing

Earlier Mark Zuckerberg announced about the possibility of using NFT as avatar clothing in the metaverse. At South by Southwest he noted that “a lot of technical things still need to work perfectly before the integration of NFTs to metaverse”. First Meta needs to make sure the objects integrate well across different platforms. Moreover, the metaverse itself should work without issues.

To sum up, other social media platforms also try to add NFTs to their platforms. And it is not surprising, because non-fungible tokens are now the most popular crypto-related products. For example, this year Twitter allowed its premium subscribers on iOS to add an NFT profile picture with plans to roll out the technology on its Android app and website. After this, a network of community Reddit announced about the testing of NFT avatars on their platform.

Dylan Walker

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