During an Instagram Q&A, Adam Mosseri, Instagram CEO, has revealed that the platform is considering NFTs and ways of making them more accessible to its user base.
He revealed that there is no official announcement yet; however, things seem to be going on behind the scenes.
“Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a broader audience. I think it is an interesting place that we can play and also a way to hopefully help creators.”
Early in 2021, there was a rumor that Instagram was getting involved with the NFT space. There is a possibility of a partnership with Meta.
In May, Sean Williams, a digital artist, revealed some of these plans when he stated that Instagram was working on an NFT platform and reaching out to upcoming artists in the NFT space.
Furthermore, Alessandro Paluzzi, an app developer, revealed details about the possibility of NFTs on Instagram in late June. At the time, he posted some screenshots of the “Collectibles,” indicating that Instagram is working on integrating them.
Also, Mosseri mentioned some new features, like profile embeds that extend the ability to embed videos and photos into the profiles of users. This could also tie in with “Collectibles” if users want to show their NFT as their profile picture, as many already do on Twitter.
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Wilson is a successful crypto analyst and content writer with many years of writing experience in finance and blockchain fields. His interests are in crypto-asset research and technical analysis, Fintech, Blockchain, DeFi, NFTs, and Personal Finance.