According to Meta Platform’s CEO Mark Zuckerberg, Instagram will soon start featuring non-fungible token (NFT) content.
Zuckerberg, who made this announcement at Austin’s South by Southwest Festival on Tuesday, did not provide specific details on a possible timeline. However, he reaffirmed that Instagram users would soon be privy to resources that enable them to mint their own digital assets on the platform.
Head of Instagram, Adam Mosseri, earlier disclosed back in December last year that there were ongoing discussions over NFTs. According to Mosseri, much of these deliberations considered integrating the digital assets with the picture and video sharing platform. In January, the Financial Times ran a report which stated that Meta was looking into user NFT displays. Specifically, this meant granting Instagram and Facebook users the ability to display NFTs on their profiles.
The latest NFT development is far from Zuckerberg’s first documented association with the metaverse and all its paraphernalia. Facebook was renamed Meta Platforms in late 2021 to demonstrate the company’s decision to keep up with the tech times. However, that move has not played out how the company anticipated, by way of a financial bottom line. Since the name change announcement, Meta shares have been on a downward spiral, eventually culminating in a record-breaking plunge.
Image Credits: Pixabay
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