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Mark Zuckerberg Says NFTs Are Coming to Instagram

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Founder of Facebook and Meta, Mark Zuckerberg said at SXSW 2022 that NFTs are coming to Instagram.

“We are working on bringing NFTs to Instagram in the near term,” Zuckerberg said in a conversation with Shark Tank’s Daymond John.

Mark Zuckerberg announced that Instagram is working on bringing NFTs to its platform in the next “several months,” as reported by EngadgetThe Daily Beast, and Protocol.

“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, Head of Instagram Adam Mosseri confirmed that the company was “actively exploring” NFTs with the goal of bringing the technology to a wider audience.

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The NFT space is continuously expanding.

And it’s going to be especially big in the Metaverse.

Mark Zuckerberg says NFTs are coming to Instagram - NFTs in the Metaverse
Mark Zuckerberg says NFTs are coming to Instagram – NFTs in the Metaverse

NFTs in the Metaverse

The Metaverse will allow users to create virtual NFT marketplaces where a collection of NFTs may be displayed.

Influencers will have the leverage here as they could setup terms with artists to include their art in these virtual galleries.

An influencer may also charge a fee to enter this virtual gallery.

NIKE is already dipping its toes into the metaverse with its own virtual “Nikeland” and has now acquired a studio (RTFKT) known for making NFTs of products.

Museums are even getting in on this technology – they are currently placing NFT artwork in metaverses such as Cryptovoxels, powered by the Ethereum blockchain.

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And although NFTs but more especially the Metaverse is a relatively new concept, the possibilities are going to be grand.

Twitter NFT

Twitter also dives into NFT space

Meta is not the only social media giant to dive into the NFT space.

Twitter recently allowed its users to create NFT profile pictures through its subscription ‘Twitter Blue’.

You cannot mint NFTs on Twitter and whether that becomes an option down the road is something we’ll have to wait to find out.

It seems everyone is jumping on the NFT bandwagon.

This isn’t a fad though, I think NFTs are here to stay, and so do the tech giants.

Not only are they becoming part of a new developing culture, but real-world value will keep them here long-term.

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The NFT community has especially grown tremendously on Twitter.

Personalities such as Gary Vaynerchuck are very active in the NFT spaces on Twitter.

Read: What are NFTs and how will they change the world?

AMC NFT

AMC Entertainment distributes NFTs to shareholders

The largest movie theatre chain in the world just distributed more than half a million “I Own AMC” NFTs.

Collectors are selling these exclusive AMC shareholder NFTs in the market anywhere between $1,000 and $9,000.

Whether they sell for these prices is one thing, but the shareholder base believes these will multiply in value over the years.

The company is also entitled to a royalty fee every time an AMC NFT gets traded.

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This is a great way companies can earn additional revenue!

Now that NFTs are coming to Instagram it’s possible Meta follows the same model.

NFTs are growing in value and the community is scaling faster than ever.

What are your thoughts on NFTs?

Leave a comment below!

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