Wednesday Aug 10, 2022
Wednesday Aug 10, 2022

Mark Zuckerberg planning to launch NFTs on Instagram

2022 Mar 16, 10:00, Washington
On Thursday, October 17, 2019, file photo, Facebook CEO Mark Zuckerberg speaks at Georgetown University, in Washington. Florida lawmakers, including Gov. Ron DeSantis, intensified their battle with Facebook, Twitter and Silicon Valley when they announced new proposals Tuesday, Feb. 2, 2021, aimed at reigning in platforms they accuse of squelching the free speech of conservatives. On a call with analysts the week before, Zuckerberg said the social media giant was attempting to “turn down the temperature and discourage divisive conversations and communities.

As NFTs are all the rage these days, Facebook chief executive officer (CEO) Mark Zuckerberg is planning to let Instagram users mint non-fungible tokens (NFTs) on the social media platform.

As per The Verge, Mark made the announcement at the session at South By Southwest but did not provide a specific date for when NFTs might drop on Instagram.

For the unversed, Non-fungible tokens (NFTs) are a digital certificate of ownership of a piece of digital asset that can be bought and sold.

During his speech, Mark stated that he hopes one day that users will be able to mint the clothes of their digital avatars as NFTs, but admitted there is still work to do before that can happen.

Instagram won't be the first major social network with an NFT integration. Earlier this year, Twitter introduced a feature that let some users set an NFT they own as their profile picture.


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