Mark Zuckerberg Confirms NFTs To Arrive on Instagram

Mark Zuckerberg Confirms NFTs To Arrive on Instagram
  • Mark Zuckerberg confirmed that NFTs are coming to Instagram soon. However, didn’t provide details on how and when.
  • In the future, old NFTs could be displayed and users can possibly mint new ones.
  • He said NFTs could one day play a significant role in the company’s metaverse.

Meta Founder and CEO Mark Zuckerberg recently confirmed that NFTs are coming through Instagram in a video interview with Daymond John at 2022 South by Southwest (SXSW) festival.

Zuckerberg said “We’re working on bringing NFTs to Instagram in the near term”. Although he didn’t clarify on how the feature is going to work or when, but he proposed that people would be able to exhibit their obtained NFTs and possibly mint new ones.

He added:

“I’m not ready to kind of announce exactly what that’s going to be today. But over the next several months, the ability to bring some of your NFTs in, hopefully over time be able to mint things within that environment.”

In December 2021, Instagram CEO Adam Mosseri showed interest in NFT technology. He said they’re “actively exploring NFTs” during an ask-me-anything session on Instagram, and that they would like to make NFTs “more accessible to a wider audience.” It is reported that the company was hoping to add NFTs into Novi, a digital wallet for sending and receiving money internationally.

Zuckerberg also said that NFTs could one day play a significant role in the company’s metaverse. He said “I would hope that you know, 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 different places”. He also added that there’s a bunch of technical things that need to get worked out before it could run smoothly.

Moreover, Zuckerberg stated that he’s been doing shopping on Instagram and Facebook. “​​Probably most of the stuff that I wear, I probably bought through an Instagram, or Facebook Shops or ads,” he said.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.