Instagram could soon introduce the NFT feature on its platform.
NFTs are taking the world by storm and have been tempting many tech giants to explore the emerging sector that promises big returns and potential. And, according to new information from Mark Zuckerberg, this could soon include Instagram.
Tech giant Twitter ventured into NFTs in early 2022, announcing a new feature that allowed users to upload NFTs as display images.
In addition, video streaming platform YouTube also jumped on the NFT bandwagon by announcing that they may soon integrate NFTs into their platform. But does Instagram also support NFT?
DOES INSTAGRAM SUPPORT NFT?
Meta CEO Mark Zuckerberg set the speculation market on fire when he reportedly announced that Instagram’s NFTs are in the works. Zuckerberg, while attending the SXSW conference in Texas, revealed new details about Instagram’s NFT integration. He added that the platform could soon introduce a new NFT feature, stating:
“We’re working to bring NFTs to Instagram in the near term”.
Zuckerberg also hinted at plans that may include minting NFTs on the platform itself. He said:
‘I’m not ready to announce exactly what it’s going to be today, but, over the next few months, the ability to bring some of their NFTs and, hopefully, over time be able to mint things within that environment.
According to reports, Zuckerberg also shed light on his plans regarding NFTs and how it aligns with his company’s long-term vision related to the Metaverse as a whole.
I’m hoping that the clothes that your avatar wears in the Metaverse can be minted as an NFT and you can wear them between different places. There’s like a lot of technical stuff that needs to be worked out before that’s really perfect to happen.
The news that Instagram supports NFTs was met with positive responses across all social media platforms. Cryptocurrency exchange Binance also reacted to the news and tweeted that now may be the time to buy more NFT….
INSTAGRAM NFT LAUNCH DATE
With Zuckerberg saying yes to Instagram NFTs, the launch date for such a feature will take considerable time as the feature is currently in the works at the time of publication.
However, it is expected to launch soon, hopefully by the end of the year or early 2023. Watch this space for further updates.