Support for NFTs on Instagram will arrive shortly, something that Meta (the new name of Facebook’s parent company) has confirmed. These collectible virtual objects can be used within Instagram, although their objective still raises doubts.
It has been Mark Zuckerberg himself, creator of Facebook, who has commented that NFTs can be used on Instagram, but with hardly any details of their usefulness on the social network. We know that external NFTs will be able to be added to Instagram , it will not be a proper type of NFT of its own.
We have already explained what an NFT is, an image, video or other element (usually artistic) that despite being digital has a single owner thanks to a blockchain network. Collectors, investors, and speculators have started placing high value on certain NFTs, and Instagram is following suit.
Twitter only recently allowed putting NFTs on profile photos, and it would be a feature that Instagram could add relatively easily. It would be a way to show reputation, since some collections such as CryptoPunks or Bored Ape Yacht Club sell each NFT for hundreds of thousands of euros.
Zuckerberg has insinuated that Instagram will be able to create its own NFTs, probably interoperable with other platforms , since the interest of these virtual objects is the possibility of selling them when they gain value.
We must not forget that the metaverse is the company’s great project, and one of the options being studied is that the items in the metaverse are all NFTs . Considering that Instagram and Facebook already have avatars for the metaverse, the bet on these emerging technologies is very strong.
For now we can only stick with the promise that NFTs will be coming to Instagram soon , unfortunately Zuckerberg hasn’t nailed down his exact plans. What is clear is that the fashion of NFTs does not stop growing, and the big technology companies are joining little by little.
