New Delhi: Instagram is getting non-fungible tokens (NFTs). Mark Zuckerberg, the  CEO of Meta had announced that Instagram would be getting NFTs shortly, and according to a recent rumour, that could happen this week.


COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Meta has been planning NFT integration with Instagram for quite some time, as the company's CEO has already stated. NFTs from some of the most popular blockchain networks are now heading to Instagram, according to a CoinDesk story. NFTs on Ethereum, Polygon, Solana, and Flow are headed to Instagram, according to the research, because these blockchain networks contain the majority of NFTs. According to the article, the Instagram pilot would feature a limited number of NFT enthusiasts centred in the United States. Instagram's support for NFTs from the four blockchains mentioned above, however, remains unknown.


According to a CoinDesk report, the photo-sharing platform plans to support popular crypto wallets such as Metamask. Users will be able to prove ownership of NFTs and display them on their Instagram profiles by linking their wallets. Instagram will not charge users to showcase and upload their NFTs, according to CoinDesk, similar to what Twitter did with NFT profile images earlier this year.


This comes after Zuckerberg said in March that Meta is testing NFTs on Instagram. He stated that the company is investigating NFTs and plans to enter the market after the team has figured out how to overcome the "technical challenges."" Previously, Instagram CEO Adam Mosseri stated that the company is "exploring" new features "Last year, NFTs were developed with the purpose of extending the technology to a wider audience.


Instagram is a wonderful platform for NFTs because it has over a billion daily active users and many individuals use it to show off their artwork.