NFT Features Coming Soon to Instagram, Says Mark Zuckerberg

Meta’s (formally Facebook) CEO Mark Zuckerberg announced that Instagram will very soon get the features around non-fungible tokens (NFTs). 

He revealed the same in a recent press conference and said that one of the biggest photo-messaging applications Instagram will be added with the special feature of NFTs. Instagram will be the second platform after Twitter to introduce this feature. Twitter is already allowing the holders of non-fungible tokens to showcase their virtual possessions online. 

Zuckerberg in a conversation said, 

“We are working on bringing NFTs to Instagram in the near term.” He also added, “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.”

It was also noticed that in December, Adam Mosseri, the head of Instagram gave confirmation that the company is actively planning to explore NFTs and will be upgrading with the technological advancements. He also posted on the Instagram story, 

“I think it’s an interesting place that we can play and also to hopefully help creators.” The planning started last summer when Instagram hosted Creators Week a “private event for NFT creators.”

It was a virtual meet where many people participated making it a successful event. Whereas neither Adam Mosseri nor Mark Zuckerberg confirmed that since when they will be launching the same or gave any elaborated details but assured that their users will be able to mint their own NFTs on the application very soon.

Although, Meta is thinking of a very broad vision of an interconnected virtual world, which will be filled with digital goods. Regarding this, Mark Zuckerberg added,

“I would hope that the clothing that your avatar is wearing in the Metaverse can be minted as an NFT and you can take it between different places.” 

However, the feature is already available on Twitter and they have also enabled NFT profile pictures for all the premium users. 

Other than Instagram and Twitter, other platforms, such as YouTube, Reddit, OnlyFans are also planning to test the NFT features, as the volume of NFT sales crossed the mark of $25 billion (roughly Rs. 1,84,700 crore) in 2021.