NFTs are taking over the world and have been tempting many tech giants to explore the emerging sector that promises great yields and potential. And, based on new information from Mark Zuckerberg, this could soon include Instagram.
Moreover video streaming platform YouTube also jumped on the NFT bandwagon announcing that they may soon integrate NFTs on its platform. But does Instagram also support NFTs?
Does Instagram Support NFTs?
Meta's CEO Mark Zuckerberg set the speculation market ablaze when he reportedly announced that Instagram NFTs are in the works. Zuckerberg, while attending the SXSW conference in Texas, unveiled new details regarding the NFT integration on Instagram. He added that the platform may soon introduce a new NFT feature, stating:
"We are working on bringing NFTs to Instagram in the near term.
Zuckerberg also hinted at plans that may include minting NFTs on the platform itself. He said:
I’m not ready to announce exactly what that’s going to be today, but, over the next several months, the ability to bring some of your NFTs in, and hopefully over time be able to mint things within that environment.
Zuckerberg also reportedly shed light on his plans concerning NFTs and how it aligns with his company's long-term vision related to the Metaverse as a whole.
I would hope that the clothing that your avatar is wearing in the Metaverse can be minted as an NFT and you can take it between different places. There's like a bunch of technical things that need to get worked out before that'll really be seamless to happen.
The news of Instagram supporting NFTs was met with positive responses across the social media platforms. Crypto exchange Binance also reacted to the news and tweeted that now may be the time to buy more NFTs.
Recently, Meta further confirmed that its photo and video sharing platform Instagram will also be supporting NFTs of different blockchains notably Solana, Ethereum, Flow, and Polygon.
Instagram NFT Release Date
With Zuckerberg saying yes to the Instagram NFTs, the release date of the said feature will take considerable time since the feature is currently in the works at the time of publishing.
However, it is expected to be released soon, hopefully by the end of the year or in early 2023. Watch this space for more updated information.