Mark Zuckerberg Confirms NFTs Are Coming To Instagram Soon, Says Reports

There has been talks for several months about Instagram introducing NFTs, this is the first time that the Meta CEO has personally confirmed the development

Last December, Instagram, which has more than a billion monthly active users, said it was actively exploring bringing NFT technology to a wider audience. Image: Getty

New Delhi: Meta Chief Executive Officer (CEO) Mark Zuckerberg a few days ago has confirmed that video and photo-sharing app Instagram plans to add non-fungible tokens (NFTs) to the platform.

According to news reports, Zuckerberg said, “We’re working on bringing NFTs to Instagram in the near term.”

There has been talks for several months about Instagram introducing NFTs, this is the first time that the Meta CEO has personally confirmed the development.

Zuckerberg has told Shark Tank’s Daymon John at the South by Southwest conference in Austin, Texas, on Tuesday that the popular social media app plans to offer NFTs shortly.

According to Zuckerberg, users would be able to mint their own NFTs on the platform within the coming months, Platformer newsletter writer and crypto influencer Casey Newton tweeted to his 152k followers.

Last December, Instagram, which has more than a billion monthly active users, said it was actively exploring bringing NFT technology to a wider audience.

Adam Mosseri, Instagram’s head of programming, said, “I think it’s an interesting place that we can play and also to hopefully help creators.”

According to Casey Newton of The Verge, Zuckerberg added that he was hopeful that NFTs would be on Instagram in the next few months.

At #SXSW, Mark Zuckerberg just said that “hopefully” in the coming months you’ll be able to mint NFTs within Instagram

— Casey Newton (@CaseyNewton) March 15, 2022

Zuckerberg’s announcement was backed by the Financial Times, which said that Facebook and Instagram were considering allowing users to generate and trade NFTs directly on the platforms as well as launching NFT profile pictures.

According to a report by Engadget, Zuckerberg hopes that users will be able to mint their own NFTs on the platform in the next few months. However, it is not clear what he meant by minting an NFT on the social platform. Meta has not clarified about it yet.

“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,” he continues, according to Engadget. “There’s like a bunch of technical things that need to get worked out before that’ll really be seamless to happen.”

Zuckerberg also said that NFTs would play a major role in his vision of the metaverse.