From a photo-sharing platform, Instagram has almost become everything but one. So maybe this doesn’t come as a surprise – non-fungible tokens (NFTs) are soon to come to Instagram and join a bunch of non-photographic options that are already there.
This information is not merely a rumor. Meta CEO Mark Zuckerberg recently confirmed it, saying that NFTs are coming to Instagram over the next several months.
Speaking at SXSW, Zuckerberg said that the company is “working on bringing NFTs to Instagram in the near term:”
“I’m not ready to kind of announce exactly what that’s going to be today. But over the next several months, the ability to bring some of your NFTs in, hopefully over time be able to mint things within that environment.”
So, what can you do with NFTs on Instagram? As Engadget reports, Zuckerberg was a bit secretive about how exactly they are going to be implemented. But he said that NFTs “could one day play a role in the company’s eventual metaverse.”
“I would hope that you know, the clothing that your avatar is wearing in the metaverse, you know, can be basically minted as an NFT and you can take it between your different places. There’s like a bunch of technical things that need to get worked out before that’ll really be seamless to happen.”
Many platforms have added the option of buying and selling NFTs. The Associated Press has created its own marketplace, and Behance lets photographers sell their work as NFTs since October last year. When NFTs come to Instagram, I wonder if photographers will have any use of it, or it’s just another Instagram’s attempt to jump on the bandwagon of the latest trends.