NFTs are Coming to Instagram

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It will happen in the near term. 

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Integration of Non-Fungible Tokens 

During a conversation at SXSW, Meta’s CEO Mark Zuckerberg said that his company will soon introduce NFTs into Instagram. Unfortunately, he didn’t provide in-depth details about it. 

However, he said that the integration of NFTs into the said app is something that it’s on the way. But the team handling it is still working out some technical challenges. 

Mark said that bringing NFTs to Instagram is in the near term. But he’s not ready to announce when it is going to be. 

However, he said that it can happen in the next several months. When that day comes, users can bring some of their NFTs to the app and mint things within the environment

Helping Creators

Last year, Meta confirmed that it’s exploring NFTs to bring the technology to a wider audience. The company stated at that time that NFT is an interesting subject and place where Meta can play and help creators. 

Instagram presented an invite-only virtual summer called “Creator Week”. The company described it as a private event for NFT creators. This is an indication that Meta’s plans to integrate NFTs into the app are already in the works. 

When Facebook changed its name to Meta, it wanted to focus on Metaverse-related projects. In its quarterly reports from the last quarter of 2021, the company revealed the details of its VR and AR research and development business, Reality Labs, that showed losses of more than $10 billion. 

Libra 

Remember Libra? It was the company’s first attempt at crypto. In 2019, it announced that it would create Libra, which is a USD-pegged stable coin. However, it flopped because there was no community support and regulator approval. 

But Silvergate Capital purchase the project. However, some ex-Meta employees want to revive the open-source stable coin by building their own network. 

The integration can be difficult to stomach for some creators, especially those who loathe its technology.

Other Social Media Companies 

Meta isn’t the only social media company that wants to implement crypto and NFTs into the platform. Twitter rolled out NFT profile pics for iOS in January. 

The feature enables users to connect their wallet and set it as their profile photo. The feature is still in its early stages. The social media company supports static images. If one sells or transfers NFT, the profile picture won’t display ownership information when clicked. 

In addition to Twitter, another tech company that explores NFT is Reddit. Recently, it implemented NFT avatars from its own collection. 

In December 2020, OnlyFans started to enable NFT profile pictures. 

But it’s not only social media companies that are getting into the action. 

Traditional finance companies are now showing interest in this space. American Express, for instance, hinted that it will expand its business into the Metaverse according to its trademark filings. The company might also offer virtual banking and cryptocurrency services, which may allow the use of credit cards as an NFT marketplace.


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Author: Jane Danes

Jane has a lifelong passion for writing. As a blogger, she loves writing breaking technology news and top headlines about gadgets, content marketing and online entrepreneurship and all things about social media. She also has a slight addiction to pizza and coffee.

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