According to the CEO of Instagram, Adam Mosseri, the social media application is looking into non-fungible token (NFT) technology. During an ask-me-anything (AMA) session on Instagram, Mosseri said that the company wants to make NFTs “more accessible to a wider audience.”
Instagram CEO: “We are definitely and actively exploring NFTs”
Following the transformation of Facebook, the company’s parent company into Meta, Instagram CEO Adam Mosseri discussed NFT technology the Saturday. Instagram’s story was part of a series of questions AMA addressed to the chief executive of the company. When asked what he thinks about NFT’s integration with Instagram, Mosseri explained that the company is exploring the idea.
“Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” Mosseri elaborated. “I think it’s an interesting place where we can play, and also a way to hopefully help creators,” the Instagram CEO added.
Alleged Instagram NFT Features and Creators Week
Mosseri didn’t go further in his Instagram story, and the CEO didn’t mention any details about the company adding NFT support. Towards the end of May, Instagram hosted its first annual “Creators Week” which present NFT non-fungible and creator tokens. In July, software developer Alessandro Paluzzi shared screenshots Instagram’s alleged plans to incorporate NFTs.
Furthermore, Paluzzi also shared an alleged leaked feature that allows Instagram users to bid on NFT collectibles within the app. The developer also explained at the time that Instagram would likely support Facebook’s Novi blockchain project and native crypto asset. Instagram and Facebook are not the only social media platforms to explore blockchain as Twitter launched a BTC tipping feature at the end of September and said it was exploring NFT authentication.
In addition to saying that Instagram is “exploring NFTs” and trying to accommodate a “larger audience,” much like its parent Facebook, Instagram is quite low-key about such features. Three days ago, venture capital firm Seven Seven Six, Polygon and Reddit co-founder Alexis Ohanian, announced the creation of a $ 200 million fund to boost social media related to Web3 and tech. blockchain.
