In an announcement by Mark Zuckerberg, the CEO of Meta has said Instagram will introduce non-fungible tokens (NFTs) to its platform.
Meta (CEO) Mark Zuckerberg has declared that video and photo-sharing app Instagram plans to add non-fungible tokens (NFTs) to the platform.
According to news reports, Zuckerberg said, “We’re working on bringing NFTs to Instagram in the near term.”
For several months the rumors were around about Instagram introducing NFTs, this is the first time Mark Zuckerberg has personally confirmed the development.
On Tuesday he told Shark Tank’s Daymon John at the South by Southwest conference in Austin, Texas, that the popular social media app plans to offer NFTs shortly.
According to Zuckerberg, users would be able to mint their own NFTs on the platform within the coming months, Platformer newsletter writer and crypto influencer Casey Newton tweeted to his 152k followers.
Last year in December , Instagram, which has more than a billion monthly active users, said it was actively exploring bringing NFT technology to a wider audience.
Adam Mosseri, Instagram’s head of programming, said, “I think it’s an interesting place that we can play and also to hopefully help creators.”
According to Casey Newton of The Verge, Zuckerberg added that he was hopeful that NFTs would be on Instagram in the next few months.