Whether or not you like using Non-Fungible Tokens (NFTs), you’ll probably see more of it. Filipino students have used it to raise funds to save Philippine Eagles, and even Nadine Lustre had a rare audio NFT launch. Recently, Mark Zuckerberg revealed that the digital collectibles would take up space on Instagram soon.
On Tuesday, Zuckerberg spoke with businessman Daymond John about the Metaverse at the SXSW Conference. The discussion shifted to the digital culture’s landscape. He said, ‘We are working on bringing NFTs to Instagram in the near term. I’m not ready to announce exactly what that’s gonna be today...’
‘Over the next several months, [people will have] the ability to bring some NFTs in, and hopefully over time be able to mint things within that environment,’ Zuckerberg added. He also shared that NFTs possibly have a big role in the company’s metaverse, where the clothing of avatars could be minted as an NFT.
Zuckerberg highlighted his own add-to-cart habits as justification for developing Instagram into a shopping platform, ‘Probably most of the stuff that I wear, I probably bought through an Instagram or Facebook Shops or ads.’
While Zuckerberg wasn’t specific about the plan, the Financial Times reported in January that the Meta CEO hopes users will be able to display NFTs as profile pictures, producing NFTs, and establish a marketplace for these digital tokens in the long run.
A few people on the Internet have mixed reactions to Instagram’s upcoming move. Some think it’s interesting, while others see it as something risky since influencers with large followings might take advantage of it.
just cause instagram is integrating NFTs, and ig is bigger than twitter, it doesn’t mean NFT culture will move there. when a culture is new, we need a place to talk and build consensus on what things mean, and until we have better options, twitter does it 10x better than ig.
— andrew wang (@andr3w) March 15, 2022
NFTs are coming to Instagram in the near future? 👀 gonna be interesting to see how that plays out considering there's more #NFT related spam on Instagram than Twitter
— Frank Castiglia (@FrankCastiglia) March 16, 2022
Here’s what’s scary… yall think rug pulls & influencers taking advantage of their following is bad now?? fuck no. just wait til nft’s are integrated into instagram. where only influencers have a voice. They will build a fkn rug shop with all that tiktok money & ppl will get REKT
— Not A Goat (@DaGoatNFT) March 15, 2022
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