Are NFTs Coming to Instagram? 🤫


Are NFTs Coming to Instagram? 🤫

Team Streams

April 8th, 2022

Are NFTs Coming to Instagram? 🤫

At SXSW a few months back, Mark Zuckerberg, the CEO of Meta (the parent company of Instagram), announced that NFTs will be coming to the platform in the “near term.”

There was not a lot of detail revealed but we can be pretty certain that NFTs will be coming to Instagram soon. 

Mark Zuckerberg, in his announcement, explained that the integration of non-fungible tokens into the Instagram app as something that is on the way. However, first, the Instagram team needs to work out some technical challenges. 

So there is no set date for NFT's launch into the Instagram world but it is something that is in the works and will be revealed in the coming months.

“We are working on bringing NFTs to Instagram in the near term,” Zuckerberg said. “I’m not ready to announce exactly what that’s going to be today, but, over the next several months, the ability to bring some of your NFTs in, and hopefully over time be able to mint things within that environment.”

In December, Adam Mosseri, the Head of Instagram clearly confirmed that the app was “actively exploring” NFTs. “I think it’s an interesting place that we can play and also to hopefully help creators,” Mosseri said in an Instagram story.

In the summer of 2021, Instagram hosted a “Creator Week.” This was an invite-only event that was for NFT creators to connect and share ideas.

Instagram’s interest in NFTs is clear. It likely comes from Meta’s broader vision of a metaverse filled with virtual items. NFTs provide a great solution to issues with security and ownership for items in their virtual world.  

If you have been tracking Metas plans, then Instagrams branching out into NFTs should come as no surprise. It is important for brands and creators to keep on top of these technologies as they will be a vital part of the future of content creation.  

For example, Twitter has already enabled NFT profile pictures for premium users.

For many brands, NFTs on Instagram is exciting news. It potentially creates another form of revenue through selling these virtual products and gives you the chance to create specialised content for your fan base. 

While we don't have an exact date for NFT integration on Instagram, it is coming and it's something your marketing team should be planning for. 

 

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