New social media platform Instagram hints at NFT integration as CEO Kevin Systrom says the company is exploring cryptocurrency for its massive user base.
The “nft plazas” is a new feature that Instagram has hinted at. This feature would allow users to purchase and sell their own digital assets on the platform.
Instagram, the social media behemoth, has continued to flirt with the NFT sphere. The newest tidbit comes from from the platform’s oligarch.
Instagram is looking at methods to include non-fungible tokens into its platform in order to make it more accessible to the non-fungible world. On the surface, a corporation that seems to be well positioned to implement this ground-breaking new technology.
During an informal “ask me anything” session, users questioned Head of Instagram Adam Mosseri about the potential use of NFTs on the Instagram platform, to which he responded by revealing that they were looking into the possibility of making NFTs more accessible to a wider audience, revealing that NFTs are “an interesting place that we can play, and also a way to, hopefully, help creators.”
The platform itself has over 2 billion individual accounts and processes a massive quantity of digital material, almost all of which is NFT compatible. As a result, users speculate that Instagram views NFTs as a new way for influencers to monetise their content. In addition, Instagram is part of the Facebook family of businesses. As a consequence, it’s a foregone conclusion that Instagram will play a significant role in the company’s well-documented “metaverse” aspirations.
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A new Instagram post hints at possible integration with NFTs. If this is true, it will be a significant step for the cryptocurrency market. Reference: ica miami nft.
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