South by Southwest in Austin usually cranks out big announcements and interesting news, and Mark Zuckerberg had reporters buzzing this week when he told The Daily Beast that Meta would add NFTs to Instagram very shortly.
It confirms the rumors that have been circulating for a while, and IG’s Adam Mosseri even hinted at it last year when he said the company was looking into it seriously.
There are a lot of details that have to be figured out, including what exactly minting an NFT on Instagram would mean. Some have speculated that a popular post on IG could potentially be sold as an NFT.
Here’s what Zuck told Engadget.
“We’re working on bringing NFTs to Instagram in the near term. I’m not ready to kind of announce exactly what that’s going to be today. But, over the next several months, the ability to bring some of your NFTs in, hopefully over time [you’ll] be able to mint things within that environment.”
Integrating NFTs into a social media platform is already happening on Twitter. Jack Dorsey is a big fan, and earlier this year, Twitter showed off a feature that allows Twitter Blue subscribers to set an NFT they own as their profile picture.
Oh, putting NFTs on Instagram is just the tip of the iceberg for what the man who changed his company’s name to Meta wants to do eventually, according to Engadget.
“I would hope that, you know, the clothing that your avatar is wearing in the metaverse, you know, can be basically minted as an NFT and you can take it between your different places. There’s like a bunch of technical things that need to get worked out before that’ll really be seamless to happen.”