It is known that Mark Zuckerberg wants to include NFTs into Instagram in the near future. The Meta CEO did not include too many details, but we are sure that this change will be a huge step for the company.
The integration of the non-fungible tokens into the app that is made for sharing photos and videos is something that is a reasonable step for Instagram creators. There are some technical challenges to be overcome and the Instagram NFTs will be available to the large public of Instagram users.
Users will be able to bring existing NFTs over to Instagram
Zuckerberg spoke at South by Southwest (SXSW), which is an annual conference that features film, music, and tech industries. He mentioned that the company is working on bringing NFTs onto the app, and this will happen in the next several months. He said that he is not sure when exactly this will happen, but he is sure it will happen in the near future.
With this innovation on the app, the users will be able to mint things within the environment, and this will create many interactions between the users.
“Long-term, I would hope that the clothing that your avatar is wearing in the metaverse can be minted as an NFT,” Zuckerberg told SXSW.
As part of announcements for this company’s step, Head of Instagram Adam Mosseri said that the company was exploring the NFTs and their integration into the app. They were “exploring NFTs and how they can make them more accessible to a broader audience.” According to Mosseri, it is “an interesting place where we can play and also a way to help creators.” Mosseri said all of these pieces of information in an Instagram story in December, and we now see that the company is moving forward with the plans.
These plans were already prepared last year in June when Instagram hosted “Creator Week,” a virtual summit that was based on invite-only praxis. The company characterized this event as a private event for NFT creators and this was described in their invitations.
The three-day program ran from June 8th to June 10th, and this was an ideal chance for creators to grow their followings and make more money. The “Creator Week” was accessible by invitation only, and more than 5,000 creators from the U.S. were invited. The main goals for Creator Week were to make creators more visible online and help them grow their audience. Building their communities and their businesses online was what mattered the most in this action.
NFTs Mature in 2022
At the moment, the new plans are related to the NFTs that can be used in the metaverse created by the Meta company. Instagram will be full of digital goods that will be accessible as NFTs. Zuckerberg said that your avatar can wear clothing that can be minted and transferred between the different places.
This is a key point of the whole plan for the NFT environment. The goods can be transferred to different places and these goods can be sold and bought between the users. This will create a market where different goods will be offered as NFT units, which will be a good starting point for virtual world transactions.
Twitter already has this kind of NFT integration. The platform enabled NFT profile pictures for premium users, and this change happened earlier this year. The transactions are possible between the platform’s NFT community and Jack Dorsey’s crypto hype. We can notice that these actions are more effective than expected and the whole concept might work better on Twitter than on Instagram.
At the same time, we can notice a huge initiative from Instagram users that want to embrace this kind of new NFT world. They want to be able to have NFTs and make transactions online. We will see the full potential of this plan in the next several months when Instagram fully integrates these solutions into the platform.
