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Zuckerberg Confirms Plans To Add NFTs To Instagram

16 March 2022 13:58, UTC
Anna Martynova

During the SXSW conference, Mark ZUCKERBERG announced that his company plans to implement NFT on Instagram in the near future. Although Meta's CEO and founder did not provide details, the integration of non-fungible tokens (NFTs) into the company's photo and video sharing app will come after the Instagram team resolves some technical issues.

In December, Instagram CEO Adam MOSSERI confirmed that the company is actively exploring NFTs with the goal of bringing the technology to a wider audience. Those plans were already in the works: Last summer, Instagram hosted "Creator Week," an invite-only virtual summit that the company described in its invites as "a private event for NFT creators."

The track record of Meta products in the cryptoverse is spoty so far. Facing headwinds from central banks and regulators, the company downsized the grand plans for its own cryptocurrency until they bore little resemblance to its initial pronouncements of an industry-shaking innovation.

Image: 3DNews