NFTs Coming to Instagram
Market Meditations | March 17, 2022
We’ve seen NFTs infiltrating their way to social media. With this, comes a lot of people claiming they own an NFT. But they are simply copying and pasting a JPEG into their profile picture. We saw earlier this year, Twitter integrating NFTs into their social media. Mark Zuckerberg announced that Instagram would be doing the same. Is it the same as Twitter? Well, Instagram reportedly wants to do a little more.
- At SXSW (South by Southwest), Zuckerberg said that “over the next several months, [they will work on] the ability to bring some of your NFTs [into Instagram].”
- He also said that “hopefully over time [consumers will] be able to mint things within that environment.”
- There were previous rumours of NFT integrations, NFTs as a profile, minting, and discussions around a marketplace. Zuckerberg pretty much confirmed all but the marketplace.
- What would minting NFTs on Instagram look like? While Zuckerberg did not elaborate, The Verge has a couple of ideas. Minting could possibly mean selling a post as an NFT or perhaps a ticket that acts as a pass to see specific stories.
While some specifics are yet to be hashed out, this is further proof that NFTs are here to stay. There is integration everywhere we look – particularly in the social media realm.