NFTs May Сome to Instagram: Here’s What to Expect

It looks like Instagram is seriously focused on introducing NFTs. Here’s what we know about it and other crypto-related projects run by Meta.

It appears Instagram is considering the NFT integration. According to the platform’s CEO Adam Mosseri, Instagram is investigating opportunities and technicalities related to this crypto-asset.

As it’s been announced, NFTs may be introduced as “collectibles”. There will be an option to make posts about them where authors can offer their creations to anyone interested.

However, we know nothing about how the idea will work. Probably, there will be a number of collabs, involving the entire Metaverse — the constellation of t services including Facebook, Instagram, Tinder, and others.

Recently, it was announced that a crypto-wallet Novi will be added to WhatsApp. The new feature will target users throughout the world who have no access to the banking infrastructure.

Facebook’s unsuccessful Libra cryptocurrency was renamed as “Diem” in 2020. It might be used as an intermediary unit for Novi operations.

It was also said that crypto wallets will be available on Instagram too. Apart from Novi, Coinbase and TrustWallet will be extra options.

There’s also a suspicion that NFTs can be advertised directly via user profiles. It was mentioned by Mosseri that a new option dubbed “embeds” is in the making.

It will allow putting videos and pictures right in the user profile, which could be a great promotional tool for NFT trading.

If you’ve never heard of NFTs, it stands for Non-Fungible Token. It’s like a unique piece of art, which can be a digital drawing, photo, audio clip, etc. If you buy an NFT, you become its exclusive owner.

It seems Instagram is serious about joining one of the hottest crypto markets. How successful will their effort be? Let us know in the comments!