NFT: Instagram would consider adding non-fungible tokens to its platform

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Instagram is reportedly exploring the integration of non-fungible or NFT tokens into its platform. This is part of the company’s expansion plan, according to the head of the company.

According to CryptoPotatoInstagram CEO Adam Mosseri made some comments during a question-and-answer session last weekend. He reportedly mentioned that they were studying the integration of NFT on Instagram and actively exploring what they could do.

The social media company is working on ways to make NFT more accessible to its users. During the discussion, he also said that it had been suggested to mark all posts on IG that offer NFTs as “collectibles”. Mosseri added that while there is no official announcement yet on the NFT integration, things are actually happening behind the scenes, which means they are working on it in silence at the moment.

“Nothing to announce at this time, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” he said. “I think it’s an interesting place where we can play and also a way to hopefully help the creators.”

Sean Williams, a digital artist, shared that Instagram’s plans for NFT have been around since May. he said that at the time the company was working on a platform for non-fungible tokens and he knew that because IG also started reaching out to upcoming artists in the NFT sphere.

In June, app developer Alessandro Paluzzi also shared what he knows about NFTs on Instagram. At that time, he uploaded screenshots of the “collectibles” and indicated that IG was actively working to add them to the platform.

After four months, in October, Paluzzi posted an update on IG’s work on ‘collectibles’ and said the company is still there and in fact the ability to connect a digital wallet has was added at that time. Earlier this month, Paluzzi continued to claim that more digital wallets were integrated and mentioned Novi, Coinbase and TrustWallet as the new additions.

Finally, Instagram has yet to publicly announce its NFT plans and it looks like users will be able to hear news soon as some details are already available. Additionally, IG is owned by Meta which is also launching into the Metaverse, so it is certain that the platform receives NFTs as well.

“From now on, we will be metaverse first, not Facebook first”, Market Insider quoted Meta CEO Mark Zuckerberg when transforming Facebook into a metaverse company. It’s clear that he wants his social media platforms to be metaverse-ready. Instagram begins with NFTs.


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