Mark Zuckerberg announces that he will integrate NFTs in the Instagram network

Like it or not, NFTs seem to have been adopted by many companies lately. Since Mark Zuckerberg’s ambitions are in the “metavers” area, renaming his entire company from Facebook to Meta, it’s no surprise that he announced the integration of NFTs into the Instagram platform. In fact, it seems to be the most suitable for this type of content, being a predominant platform for photos and videos, which happens to be the most popular types of NFTs so far.

Instagram users will be able to use their NFTs on the social network

At the SXSW (South by South West) conference, Mark Zuckerberg announced that Instagram will receive support for NFTs in the very near future. It’s not clear what that means for Instagram users, but he noted that there are some technical issues that the team behind the network needs to address before the integration can be done. The deadline is set for the next few months.

Zuckerberg says there will be ways to bring your existing NFTs to Instagram, probably to set your profile picture straight from your personal wallet, as you can now do on Twitter. Zuckerberg also says that you will be able to create your own NFTs directly from the Instagram interface.

NFTs were first discussed in relation to Meta when the vision for metavers was presented, where there will be many types of digital goods, from the art you can use to decorate your virtual spaces, to clothes virtual characters of your metaversal character.

However, Facebook’s vision for metavers is still a long way off. Technology needs to evolve a lot in the direction of AR and VR for this to happen, while the entry barrier needs to be significantly lower than it is today. Currently, the first VR network on Facebook, Horizon, is facing problems in the interaction between people in VR, with some users complaining about harassment in these social spaces.

source: TechCrunch