BEIJING, March 17 (TMTPOST) — Social media platform Instagram is testing its NFT (non-fungible token) feature, tech media Engadget reported, quoting the CEO of Meta, Mark Zuckerberg.
“We’re working on bringing NFTs to Instagram in the near term,” he said during an interview at the South by Southwest conference on Tuesday. However, details of the new feature have not been disclosed. The NFT feature will be available on Instagram in the coming months, Zuckerberg said.
This is the first time for Zuckerberg to confirm that an NFT feature is coming to Instagram. In December 2021, Adam Mosseri, head of Instagram, revealed that the Instagram team was exploring the possibilities of NFT. There have been multiple media reports of Facebook and Instagram testing their NFT feature after Meta announced that it would enter the metaverse industry.
Zuckerberg said that NFT will help Meta build a metaverse for its users.
"Long-term, I would hope that the clothing that your avatar is wearing in the metaverse can be minted as an NFT," Zuckerberg said, adding that such NFT should be available for users to use across the metaverse.
The application of NFT is not uncommon but making it a seamless experience requires Meta to overcome many technical issues, Zuckerberg said.
Instagram is one of the most popular social media platforms in the world, boasting a massive user base of young users. The addition of an NFT feature might help drive Instagram’s growth.
In October 2021, Facebook changed its name to Meta to reflect its ambition in the metaverse industry. The company’s head of metaverse products, Vishal Shah, said that the company would support NFTs.
"This will make it easier for people to sell Limited Edition digital objects like NFTs, display them in their digital spaces, and even resell them to the next person securely,” he said.
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