Last Updated on March 17, 2022 by Anu Joy
At SXSW, Meta CEO Mark Zuckerberg said that he plans to bring NFTs to Instagram in the “near term”. However, Zuckerberg didn’t furnish any more details about the implementation. Speaking with Shark Tank’s Daymond John, the Meta CEO said that he plans to “mint things” within the NFT environment.
He also added that once Instagram sorts out technical issues with the system, NFTs will make its way to the popular photo sharing app in the future.
We are working on bringing NFTs to Instagram in the near term. I’m not ready to announce exactly what that’s going to be today, but, over the next several months, the ability to bring some of your NFTs in, and hopefully over time be able to mint things within that environment.
Instagram’s Interest In NFTs
We caught a whiff of Instagram’s NFT leanings last year, when the company hosted “Creator Week”, calling it a “private event for NFT creators” in its invitations. Later in December, Instagram head Adam Mosseri said that the Meta-owned company was “actively exploring” NFTs to make it accessible to a larger audience. Mosseri said in his Instagram story, “I think it’s an interesting place that we can play and also to hopefully help creators”.
Zuckerberg added that NFTs could have an important role to play in the metaverse, “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. There’s like a bunch of technical things that need to get worked out before that’ll really be seamless to happen”.
The CEO also shared that he uses Instagram and Facebook to buy most of his clothes.
“Probably most of the stuff that I wear, I probably bought through an Instagram, or Facebook Shops or ads”, he said. If that’s the case, Instagram should work on its ad algorithms, as the app seems to be serving advertisements of the same grey shirts to the Meta CEO.
Discussion about this post