Instagram is rumored to be rolling out their own cryptocurrency, and CEO Mark Zuckerberg hinted that users could soon begin trading the digital asset. The announcement came as a surprise in the crypto community because Instagram has yet to announce anything official about it on its platform.
The “NFTs on Instagram” is a new feature that has been hinted at by Mark Zuckerberg. The “NFTs on Instagram” will allow users to post their own digital assets and create a unique user experience.
Mark Zuckerberg, the ever-famous CEO of giant social media conglomerate Meta, acknowledged rumours that the company’s subsidiary, Instagram, was planning to incorporate NFTs into its platform while speaking at Austin’s current SXSW festival.
The remarks follow news from January that the conglomerate had stepped up its attempts to introduce the digital asset to the photo-sharing site, as well as another Meta-branded social media heavyweight, Facebook.
Meta is “working on introducing NFTs to Instagram in the near future,” according to Zuckerberg, who later added, “I’m not ready to sort of reveal precisely what that’s going to be today.”
Despite his desire to keep his mouth shut, Zuckerberg is alleged to have expressed his ‘hopefulness’ that a feature allowing Instagram users to mint their own NFTs inside the app would be released in the coming months.
Overall, especially considering the conglomerate’s Web3-inspired moniker, such news shouldn’t be surprising, and it was only a question of ‘when,’ not ‘if.’ The announcement is also not surprising, considering that the Meta brand said expressly at its inception in October that it will eventually enable NFTs across its platforms.
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Facebook CEO Mark Zuckerberg hinted at the arrival of NFTs on Instagram. The first NFTs will be auctioned off to the highest bidder. Reference: ebay.
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