Mark Zuckerberg – CEO of Meta (formerly Facebook; owner of Instagram) revealed today that Instagram will integrate NFTs into its platform.

  • Speaking to SXSW, the billionaire confirmed that digital collectibles will be coming to Instagram “short term”.
  • He shared few details about the role NFTs would play on the platform, but suggested that people could both show off their current NFTs and even create new ones.
  • “I’m not ready to announce exactly what it’s going to be like today,” he said. “But over the next few months the ability to integrate some of your NFTs, hopefully over time you can create things in that environment.”
  • Zuckerberg’s interest in NFTs comes as no surprise: He renamed his company “Meta” in October last year, focusing on the growing concept of a virtual world called “Metaverse”, in which NFT and crypto will likely take center stage.
  • The CEO expressed hope that NFTs could at least play a role in Meta’s own metaverse:
  • “I hope you know, the clothes your avatar wears in the metaverse, you know, can basically be hit like an NFT and you can take them between your different locations,” he said.
  • In January, Meta planned to add NFTs to its developing Novi crypto wallet. Additionally, Instagram head Adam Mosseri said the company was “actively exploring” NFTs in December.
  • Instagram wouldn’t be the only social platform taking an interest: Twitter has already integrated NFT profile pictures and Ethereum wallet connectivity for its Twitter Blue followers.

Featured image Courtesy of Bloomberg.

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