With Facebook rebranding as Meta, it was only a matter of time before the company started introducing ways to use NFTs and Crypto on their platforms. Recent news suggests that Instagram will be the first Meta app to dive into NFTs. With Instagram being an image and video social media app, the introduction of NFTs seems like a perfect fit.
Speaking via video chat at South By Southwest, Meta CEO Mark Zuckerberg said that the Instagram team is working on bringing NFTs to the platform over the next few months. Zuckerberg didn’t mention specific details but he clarified that people will be able to bring their existing NFTs over to Instagram and will also be able to mint NFTs on Instagram.
Twitter was the first social media platform to implement NFTs by allowing users to upload NFTs as profile pictures that are verified as authentic. Zuckerberg told the crowd at the South By Southwest festival that “Long term, I hope that clothing that your avatar is wearing in the metaverse can be minted as an NFT.” The big tech players from Web2 are progressively getting deeper into Web3.