Mark Zuckerberg, co-founder and CEO of Meta, the parent company to social media applications, Facebook, Instagram and WhatsApp has said that the Non-fungible Token (NFTs) will be introduced to Instagram.
Zuckerberg who said in a statement that the recent development would see to the integration of NFTs into the company’s photo and video sharing application.
He added that the Instagram team is currently working out some of its technical challenges before the introduction of NFTs to the app.
According to Mark Zuckerberg, “We’re working on bringing NFTs to Instagram in the near term. I’m not ready to kind of announce exactly what that’s going to be today. But over the next several months, the ability to bring some of your NFTs in, hopefully over time be able to mint things within that environment.”
Zuckerberg also said that one day, NFTs would play a vital role in Meta’s big vision of a more lucrative interconnected virtual world with digital goods.
“I would hope that the clothing that your avatar is wearing in the metaverse 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,” he added.
The introduction of NFTs into Instagram would according to Zuckerberg in the coming months seeing to the users been able to mint their own non-fungible tokens with the mobile apps.
This however is a stellar step seeing that earlier this year, mini blog site Twitter introduced its feature to allow premium users set an NFT as their profile picture.
Also, Youtube announced that the video-sharing platform is considering Web3 technologies, including NFTs (non-fungible tokens) — as a way to certify digital assets stored on the blockchain.
This would serve as a means of helping YouTube creators make money.