NFTs Are Coming To Instagram

May 9

By lourdes

0 comments

Instagram is the latest platform to dive into the world of NFTs. The social media giant announced today that it will start testing NFTs with select creators in the United States this week. This move comes as many platforms and artists are exploring the potential of NFTs to sell digital art and other creations.

Instagram has not said how it will handle the sale of NFTs on its platform, but it is clear that the company is interested in the potential of this new technology. With over a billion users, Instagram could be a major player in the NFT space if it decides to fully embrace this new form of digital art.

What are the details?

Instagram plans to allow a selected number of users to share NFTs they’ve created or bought on their profiles for free. They’ve made it clear that they are starting small in order to get clearer on what the Instagram community wants from the NFT space.

“I want to acknowledge upfront that NFTs and blockchain technologies are all about distributing trust and distributing power,” Mosseri said in his announcement. “But Instagram is fundamentally a centralized platform, so there’s a tension there. So one of the reasons why we’re starting small is we want to make sure that we can learn from the community.”

Only time will tell if Instagram’s experiment with NFTs will be successful, but it is clear that the platform is interested in exploring this new technology.

Stay tune as we continue following the launch of NFTs on Instagram!

For daily updates and news, follow us:

Twitter

Instagram