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  • Kyle Chua

Mark Zuckerberg Says NFTS Are Coming to Instagram

The non-fungible token (NFT) frenzy could soon hit Instagram. Meta CEO and founder Mark Zuckerberg confirmed in a conversation at South by Southwest (SXSW) that users of the photo and video platform will soon be able to mint their own digital collectables soon.

Credit: Meta

“We're working on bringing NFTs to Instagram in the near term," he said. "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.”


The announcement has long been rumoured as Head of Instagram Adam Mosseri last December said that the company was already exploring the idea of integrating NFTs into the platform, TechCrunch reports.


The company also hosted an invite-only virtual summit last year called Creator Week. The event was branded as a three-day program for upcoming NFT artists to learn how to grow their community and monetise their content.

Collection of Bored Ape Yacht Club NFTs. Credit: Yuga Labs

The addition of NFTs to Instagram aligns with Meta’s vision of the metaverse, where users can, for example, buy digital clothing for their avatars to wear and flaunt in the virtual world.


“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,” added the social media executive.


Instagram is not the only company integrating NFTs into its platform. Twitter recently enabled its premium subscribers to set NFTs as their profile pictures. YouTube CEO Susan Wojcicki in a letter earlier this year also suggested that they’re also looking into the emerging technology.


NFTs are unique and one-of-a-kind digital assets, ranging from artworks, music and in-game items, among others, that are stored, sold and transferred on the blockchain network, the same technology powering cryptocurrencies.

 
  • Mark Zuckerberg confirmed in a conversation at SXSW that NFTs are coming to Instagram.

  • While the Meta founder didn't share any details of how the technology will be implemented, he did say that users will be able to bring in the NFTs they own and mint new ones on the platform.

  • Head of Instagram Adam Mosseri previously said that the company was already exploring the idea of integrating NFTs into the platform.


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