NFTs are coming to Instagram
Sadly, this isn’t surprising.
UPDATE 5/10/2022 4:12 PM ET: It’s official, NFTs are now live on Instagram. The company is testing digital collectibles for creators and collectors to showcase NFTs on Instagram. NFTs allow creators to take control over their work, fanbase, and income. The original story follows below.
NFTs are everywhere right now, and now you won’t be able to escape them by indulging in retail therapy on Instagram. Speaking at SXSW yesterday, CEO Mark Zuckerberg told us that NFTs are coming to the social platform.
During his “Into the Metaverse: Creators, Commerce, and Connection” session, Zuckerberg announced the news. What he didn’t say is what form NFTs on the platform will take.
NFTs are digital assets that live on the blockchain. Really, the only new thing here is the blockchain records of ownership, as digital collectibles have been here since the Tamagotchi.
Think of them as digital trading cards with attached ownership history and you’re not far off.
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The Meta CEO floated multiple options for NFT inclusion. Those included the ability to create, or ‘mint’, NFTs; possibly as avatar clothing, or the ability to bring some of your existing NFTs into the platform.
Zuckerberg wants to take that concept further, with digital assets that can be used between all of your “places” in his vision of the metaverse.
Zuckerberg did mention that “a bunch of technical things [need] to be worked out” before that metaverse-spanning tech is possible.
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