Instagram is Working on Bringing NFTs to the Platform in the ‘Near Term,’ Says Meta CEO Mark Zuckerberg

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Instagram is Working on Bringing NFTs to the Platform in the ‘Near Term,’ Says Meta CEO Mark Zuckerberg – During an ask-me-anything (AMA) session in December 2021, Instagram CEO Adam Mosseri stated how the company was exploring non-fungible token (NFT) technology.

Three months later, during the South by Southwest (SXSW) event in Austin, Texas, Meta’s CEO Mark Zuckerberg revealed that Instagram aims to launch NFTs in the “near term.”

According to claims made by Meta’s CEO Mark Zuckerberg at SXSW this week, NFTs are coming to Instagram soon. At the event, Zuckerberg chatted with Daymond John of Shark Tank and revealed that Instagram users will be able to mint NFTs as well.

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During the AMA, Instagram’s CEO, Adam Mosseri, revealed the company’s foray into the NFT realm.

In addition, near the end of January 2022, the Financial Times (FT) spoke with unnamed persons acquainted with the situation.

According to the Financial Times, unnamed sources claim that Meta and Instagram are discussing “launching a marketplace for users to purchase and trade NFTs.” According to Zuckerberg’s details to Shark Tank co-star, the launch could happen sooner than most people expect.

“We are working to bring NFTs to Instagram in the near term,” the Meta CEO remarked, without providing much details. Zuckerberg went on to say:

“I’m not ready to say precisely what it will be today, but it will include the ability to bring some of your NFTs and, hopefully, the ability to mint things within that ecosystem over time.”

Also Read: 3 Technologies That Will Shape the Future of The Metaverse

Zuckerberg has previously expressed an interest in cryptocurrencies and blockchain technology, and his pet goat is said to be named “Bitcoin.” Meta’s cryptocurrency project Diem was recently rejected by the company in order to be sold, and Silvergate subsequently purchased the Diem intellectual property (IP) this year.

Facebook also changed the name of the parent business of the social networking app to Meta. The corporation plans to bolster the metaverse, a network of 3D virtual worlds, with the help of its subsidiary Oculus and other means.

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