NFTs are very hot right now. Just about everyone is jumping on the bandwagon. In fact, it looks like Instagram will be one of the companies that will be using them. In an announcement at SXSW, Meta’s CEO Mark Zuckberg announced that NFTs will be coming to Instagram “in the near term”.
According to Zuckerberg’s announcement, “We’re 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.”
This is no surprise given the popularity of NFTs, so for Meta to attempt to leverage them and attract new users, and to keep existing ones makes a lot of sense. Instagram head Adam Mosseri had previously stated that the company was actively exploring the idea.
We’re not sure how well Instagram users will like this. Other companies and game developers had previously announced their support for NFTs but were met with a huge backlash. While the underlying tech and concept behind NFTs has promise, the speculative nature of it, especially since it is backed by cryptocurrency, has caused quite a bit of controversy among some people.
Source and Image Credit Ubergizmo