Instagram Is Working on Bringing NFTs to the Platform in the ‘Near Term,’ Says Meta CEO Mark Zuckerberg – Bitcoin News

In an AMA session, Adam Mosseri discussed Instagram’s non-fungible tokens (NFTs) research in December 2021. Three months later, at the South by Southwest (SXSW) event in Texas, Meta’s CEO Mark Zuckerberg explained Instagram plans to introduce NFTs in the “near term.”

Meta CEO Hints NFT-Features Coming to Instagram

According to Instagram, NFTs will soon be available on Instagram. statements from Meta’s CEO Mark Zuckerberg at SXSW this week. Zuckerberg spoke with Shark Tank’s Daymond John at the event, and he explained that Instagram users will be able to mint NFTs as well.

News concerning Instagram’s venture into the NFT world originally stemmed from the company’s CEO ,Adam Mosseri, during an AMA. The Financial Times (FT), a news publication, spoke to unnamed sources about the subject at the beginning of January 2022.

FT’s report quotes the unnamed sources who said both Meta and Instagram are conversing about “launching a marketplace for users to buy and sell NFTs.” Zuckerberg’s details to the Shark Tank co-star indicate the launch might be sooner than most think. While the Meta CEO did not share many details, he said: “We are working on bringing NFTs to Instagram in the near term.” Zuckerberg added:

I’m not ready to announce exactly what that’s going to be today, but, over the next several months, the ability to bring some of your NFTs in, and hopefully over time be able to mint things within that environment.

Meta Sells Diem IP. Firm Plans to Grow in the Metaverse

Zuckerberg has shown interest in blockchain technology and cryptocurrencies in the past and allegedly his pet goat is named “Bitcoin.” Just recently, Meta’s cryptocurrency project Diem was discarded by the firm in order to be sold, and then the Diem intellectual property (IP) was eventually purchased by Silvergate this year.

Facebook also rebranded the social media application’s parent company name to Meta. The company plans to expand the network of 3D virtual realms known as the metaverse with the help of Oculus, its subsidiary and other resources.

How do you feel about Instagram adding NFT technology to its platform in the short term? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for Bitcoin.com News, with over 5,000 articles on disruptive protocols.