Instagram Is ‘Exploring NFTs’ to ‘Make Them More Accessible to a Wider Audience,’ Says CEO – Bitcoin News

Adam Mosseri is the Instagram CEO. He stated that they are looking at non-fungible tokens (NFTs) technology. During an ask-me-anything (AMA) session on Instagram, Mosseri said that the company wants to make NFTs “more accessible to a wider audience.”

Instagram CEO: ‘We Are Definitely Actively Exploring NFTs’

Following the firm’s parent company Facebook transforming itself into Meta, Instagram’s CEO Adam Mosseri discussed NFT technologySaturday. The Instagram story was part of a series of AMA questions directed at the company’s lead executive. Mosseri answered AMA questions about NFT integration for Instagram.

“Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” Mosseri elaborated. “I think it’s an interesting place where we can play, and also a way to hopefully help creators,” the Instagram CEO added.

Allowed Instagram NFT Features and Creator Week

Mosseri didn’t go any further on his Instagram Story and neither did the CEO mention anything about NFT support. Toward the end of May, Instagram hosted its first annual “Creator Week” which showcasedNon-fungible tokens, NFT creators. In July, software developer Alessandro Paluzzi shared screenshots of Instagram’s alleged plans to incorporate NFTs.

Paluzzi, too shared an alleged leakedInstagram allows users to place bids on NFT collectibles from within the app. The developer also explained at the time that Instagram would likely support Facebook’s Novi blockchain project and native crypto asset. Facebook and Instagram don’t have to be the only ones exploring blockchain. Twitter, for example, launched a BTC tipping tool at the beginning of September. It also stated that it was looking into NFT authentication.

Besides saying Instagram was “exploring NFTs” and trying to scale to a “wider audience,” much like its parent Facebook, Instagram is pretty tight-lipped about such features. Three days ago, Polygon and Reddit co-founder Alexis Ohanian’s Seven Seven Six venture capital company announced the creation of a $200 million fund to bolster social media tied to Web3 and blockchain technology.

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Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been active since then. Since 2011, Redman has been an active member of the cryptocurrency community. Redman has contributed more than 4900 articles to News since September 2015. These articles are about today’s disruptive protocols.

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