Love them or hate them, NFTs are here to stay. And, according to Meta CEO Mark Zuckerberg, they're coming to Instagram. The company is set to roll out NFT support in the coming months, though Zuckerberg couldn't confirm exactly what Instagram's move into the world of NFTs would look like.
Still, the move makes sense, at least on a "Meta is involved in the metaverse and crypto" level. But, what would NFTs on Instagram actually do? How would they work?
NFTs Are Coming to Instagram
Speaking at the SXSW event, Zuckerberg confirmed that Meta was indeed looking to bring NFTs to Instagram.
We're working on bringing NFTs to Instagram in the near term
However, outside of confirming that NFTs are coming to Instagram and that there may be some integrated NFT minting functionality, Zuckerberg was characteristically coy regarding additional details, noting that there are "a bunch of technical things that need to get worked out" before Instagram NFTs can really happen.
Meta's relationship with NFTs is still blossoming, and it's unknown yet as to exactly how NFTs will feature in Meta's vision of the metaverse. However, there is little doubt that NFTs will play some part. The company's pivot towards metaverse development encapsulates other aspects of cryptocurrency and blockchain technology, and many metaverse projects have crypto (and NFTs) at their core.
How Will NFTs on Instagram Work?
Instagram isn't the first social media platform to engage with NFTs. Twitter rolled out its NFT profile picture program, for better or worse, allowing users to mint an NFT as their profile picture.
Will Instagram's NFT integration follow the same path? Or, as Instagram parent company Meta is striding forwards with its metaverse plans, will we see a different approach to NFTs on Instagram? Perhaps high-profile accounts will mint NFTs of unique posts, or you could memorialize your top-rated post forevermore. Tying into Instagram's appeal as a fashion outlet and Meta's metaverse vision, you'll try on and purchase a digital NFT item on Insta in the morning, then "wear it" in the metaverse in the evening.
NFTs on Instagram: Coming Soon!
Zuckerberg's SXSW talk was titled "Into the Metaverse, Creators, Commerce, and Connection," and the discussion revolved around the next opportunities for creators in the metaverse. So, while the above sounds outlandish, don't dismiss it as pure fancy. You might be rocking an NFT outfit in the metaverse before you know it!