We last heard from Meta in January, when it said it was considering launching an NFT marketplace on Facebook and Instagram. The rumors appear to be genuine, as Mark Zuckerberg, the CEO of Meta, announced that NFTs will be available on Instagram “shortly.”
The CEO of Meta, Mark Zuckerberg, recently talked at the SXSW conference, where he stated that the new digital artifacts would be available on Instagram soon. “We’re working on adding NFTs to Instagram in the near term,” Zuckerberg reportedly remarked.
While the CEO didn’t go into depth about how the NFTs will appear and work on the platform, we expect makers and artists to be able to show off their portfolio in the same way that photographs are displayed. It’s unclear how everything will function, or whether Instagram would allow producers to create and sell new NFTs. “I’m not ready to kind of declare exactly what that’s going to be today,” Zuckerberg added. But, in the coming months, the ability to bring some of your NFTs in will hopefully allow us to mint things within that environment.”
At the occasion, Zuckerberg also hinted that NFTs may play a significant role in the metaverse’s future. “I would expect that the apparel that your avatar wears in the metaverse can be practically minted as an NFT and you can transport it across your various locations,” he stated. “There are a lot of technological issues that need to be sorted out before that can truly be smooth.”
Given that this isn’t the first time we’ve heard or seen the social media behemoth discuss methods to incorporate NFTs into its platforms, the news shouldn’t come as a surprise, and we’ll likely hear and see more in the future.